Where are the Champions?Queens may sing "We are the champions." But the Bursar does not have any these days. MOX is just a takeover bid and we do not know about UMW. Genting may be up because of the Genting International rights issue. Interestingly, THE STAR speculated that Resorts could be driven up by potential news of better dividends payout to help the parent company in footing some of the development costs of the Sentosa Island casino project. The other reason is that it is projected to reap enormous benefits from the Visit Malaysia Year 2007. The CI was up 8.8 points to 1,373.14.
Volume of shares traded was 1.23 billion shares worth a value of 1.9 billion. 640 counters were up and 276 counters went down. Gainers included LCL, CEPCO,UEM World, Yinson and MRCB. Losers were CIMA, BJ Toto, Padini and Proton.
Bad news bears in Megan is a killer. So many first-tier banks are involved. They cannot bankrupt the company as it means zero returns. There is really nothing of value to force sell since Megan's losses have crossed into the billion ringgit mark. Also there is a police report and possible criminal investigation.
So today we have the market extending their gains. Resorts upped 10 sen to RM3.76 while Genting upped 25 sen to RM8.75. BJ Toto retreated 15 sen to RM 5.35 and KPS was a sen up at RM1.71. Metronic was half a sen better at 43.5. JAKS upped 4.5 sen to 76.5 sen while RCE ascended 4 sen to 101. AMDB added 2 sen to 42 sen.
Counter under SC threat WMC slumped further to RM1.08. This is the counter to watch.
Heartsong
Volume of shares traded was 1.23 billion shares worth a value of 1.9 billion. 640 counters were up and 276 counters went down. Gainers included LCL, CEPCO,UEM World, Yinson and MRCB. Losers were CIMA, BJ Toto, Padini and Proton.
Bad news bears in Megan is a killer. So many first-tier banks are involved. They cannot bankrupt the company as it means zero returns. There is really nothing of value to force sell since Megan's losses have crossed into the billion ringgit mark. Also there is a police report and possible criminal investigation.
So today we have the market extending their gains. Resorts upped 10 sen to RM3.76 while Genting upped 25 sen to RM8.75. BJ Toto retreated 15 sen to RM 5.35 and KPS was a sen up at RM1.71. Metronic was half a sen better at 43.5. JAKS upped 4.5 sen to 76.5 sen while RCE ascended 4 sen to 101. AMDB added 2 sen to 42 sen.
Counter under SC threat WMC slumped further to RM1.08. This is the counter to watch.
Heartsong
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