DJ MARKET TALK: IJM May Rise; 1MDB, PetroSaudi To Buy Stake -Rprt
0028 GMT [Dow Jones] Construction firm IJM Corp (3336.KU) may rise to test last Friday's high of MYR4.84 on The Edge weekly report, citing unnamed sources, 1Malaysia Development and PetroSaudi International JV may buy 8.77% stake in IJM Corp from Zelan Bhd (2283.KU). No price was given. "The news should trigger some interest in IJM as this is the first meaningful acquisition by the joint-venture," says local brokerage dealer. Adds "the stake buy would reinforce perception that IJM is a good company to own." Company's outlook expected to be bright given the pipeline of multi-billion ringgit infrastructure projects to be rolled out in the next few years. Stock closed +0.4% at MYR4.80 last Friday. (ECH)
Contact us in Kuala Lumpur. 603 2026 1233;
MarketTalk@dowjones.com
0028 GMT [Dow Jones] Construction firm IJM Corp (3336.KU) may rise to test last Friday's high of MYR4.84 on The Edge weekly report, citing unnamed sources, 1Malaysia Development and PetroSaudi International JV may buy 8.77% stake in IJM Corp from Zelan Bhd (2283.KU). No price was given. "The news should trigger some interest in IJM as this is the first meaningful acquisition by the joint-venture," says local brokerage dealer. Adds "the stake buy would reinforce perception that IJM is a good company to own." Company's outlook expected to be bright given the pipeline of multi-billion ringgit infrastructure projects to be rolled out in the next few years. Stock closed +0.4% at MYR4.80 last Friday. (ECH)
Contact us in Kuala Lumpur. 603 2026 1233;
MarketTalk@dowjones.com
