Wednesday, October 20, 2010

Karambunai in focus

KUALA LUMPUR: Karambunai Corporation Bhd continued to be in focus and was the most actively traded counter in early trade on Wednesday, Oct 20.

At 9.45am, Karambunai was up 1.5 sen to 26.5 sen with 50 million shares done.

The FBM KLCI fell 5.41 points to 1,483.24. Turnover was 199.62 million shares valued at RM129.35 million. Losers thumped gainers 251 to 89 while 182 stocks were unchanged.

Karambunai is among the companies linked to Malaysian tycoon Tan Sri Dr Chen Lip Keong. The others are PETALING TIN BHD [] and FACB Industries Bhd.

The Edge FinancialDaily reports on Wednesday that investors have flocked to shares of Chen's flagship Malaysian entity KARAMBUNAI CORP BHD [] after the government announced plans last month at the Economic Transformation Programme for a proposed 500-acre "eco-nature" resort in Kota Kinabalu, Sabah.

Although the government has yet to disclose the name and area of where the integrated resort would be in Kota Kinabalu, many believe that Karambunai Corp is likely to be a beneficiary from the proposed project.


No comments:

Post a Comment