Saw this news clip posted on Dow Jones Newswire:
- 0007 GMT [Dow Jones] Asiatic Development (2291.KU) may shed gains, having ended +3.8% at MYR5.45 yesterday, possibly fall to MYR5.20 (roughly 5-day moving average); this after parent Genting (3182.KU) says it "has no plans to dispose of its interest in (Asiatic)" in brief response to Bursa query. Rise yesterday propelled by BT unnamed industry source story Feb. 23, saying Genting keen to sell its 54.5% stake in Asiatic. "Asiatic is Genting's cash cow, but its revenue contribution is small compared to the entire group's earnings and the parent sees Asiatic as just another management unit," source was quoted as saying. (ELL)
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