KUALA LUMPUR: The upswing in the market ahead of the end of the first quarter , could likely see more late window dressing activities by local funds on March 27. Most of interest would focus on the bigger capitalised stocks and plantation counters, with the crude palm oil futures at a five-month high of RM2,035. Stocks which would generate interest would be Resorts, TM International, Maybank, Eastern Pacific Industrial Corporation and plantation stocks. Resorts recorded its biggest gains since October last year and it was also the most active counter as analysts viewed its gaming business as resilient. TMI could see more upside after the heavy selling seemed to have dried out following the announcement of the rights shares. The Securities Commission had approved the proposed exemption to Khazanah Nasional from carrying out a mandatory take-over offer on the remaining TMI shares not held by Khazanah after the proposed rights issue. Maybank would continue to attract attention and local funds would provide the support. Maybank’s rights shares go ex on March 31. M3Nergy is not proceeding with its plans impose the put option to sell the remaining 20.93 million shares of Malaysian Merchant Marine to Core Attributes and two others. Instead, M3Nergy is seeking other potential buyers for the option. It also may seek the right to claim damages from Core Attributes over the aborted deal. Oil and gas services firm Eastern Pacific Industrial Corporation Bhd (EPIC) has placed bids for local fabrication jobs and in Brunei, which is its first venture to the sultanate. The combined value for both bids is close to RM130 million, according to its chief executive Ramli Shahul Hameed.
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