Tuesday, September 07, 2010

Another Stock Spin, Another Denial

So where have you seen this trend before?

Where eh?

On the Business Times:

  • EPF denies report on RHB Capital merger

    Published: 2010/09/07

    THE Employees Provident Fund (EPF) has denied a report that it may merge RHB Capital Bhd (1066) with another local bank.

    The pension fund is the major shareholder of RHB Capital, the country's fourth largest banking group by assets.

    "The report is not true," EPF's general manager for public relations Nik Affendi Jaafar told Business Times yesterday.

    A business weekly had, over the weekend, cited sources as saying that the EPF was considering such a merger in its move to pare down its stake in the bank to less than 40 per cent from 55 per cent now.

    Potential partners for RHB Capital include AmBank Group, Malayan Banking Bhd and CIMB Group, it reported.

    The news boosted RHB Capital's share price to its highest close in just over 13 years on Bursa Malaysia yesterday.

    The share price closed at an intra-day high of RM7.13, about 4.2 per cent higher than the previous trading day, making it the day's third biggest gainer in absolute terms. It was its highest close since July 31 1997.

    Read more: EPF denies report on RHB Capital merger here


That so-called financial newsletter writes... stock flies... company denies...

And it happens over and over and over again.

So fun eh?

ps... do they know what's need to be done? .... do they?

harloooooo...... is there anybody out there?