Tuesday, July 13, 2010

KEuro up in early trade

KUALA LUMPUR: Kumpulan Europlus' (KEuro) share price rose on Tuesday, July 13 after the company said it was targeting to be in the black by 2012, underpinned by its RM10 billion Canal City project and its proposed debt settlement exercise.

At 9.25am, KEuro was up half a sen to 96 sen with 510,000 shares traded.

Latest data showed it had about RM260 million in borrowings as at March 31. Under the corporate exercise, it plans to raise nearly RM91 million by disposing of 700 million shares in TALAM CORPORATION BHD []. KEuro has a 26.51% stake in Talam.

KEuro is also hoping the RM3.5 billion West Coast Highway would help boost earnings. The final terms of the concession are still being worked out.

Meanwhile, Talam was among the most actively traded stocks this morning with 2.59 million shares traded. It was unchanged at 11 sen.

No comments:

Post a Comment