KUALA LUMPUR (Dec 9): Malaysian Resources Corp Bhd (MRCB) gained as much as 3 sen or 2.4% to RM1.29, on news two foreign investors GIC Pvt Ltd and the Jardine Matheson Group are keen to take up stakes in the group.
 
At 2.59pm, MRCB eased to RM1.28, still up 2 sen or 1.59%, after some 1.08 million shares were traded. The current price gives it a market capitalisation of RM2.29 billion.
 
The Edge Financial Daily reported today, quoting a source, that GIC and the Jardine Matheson Group are both showing keen interest in MRCB, and could each be taking up a stake in the company via MRCB's recently-proposed private placement exercise.
 
MRCB had on Nov 16, 2015 announced it would undertake a private placement of up to 20% of its issued and paid-up share capital to its major shareholder Gapurna Sdn Bhd and independent third-party investors to be identified later.

The exercise could raise up to RM612.08 million for its property development activities, working capital and repayment of borrowings.
 
GIC is one of the world’s largest global investors, with well over US$100 billion (RM427 billion) of assets in more than 40 countries; the group also manages most of the Singapore government’s financial assets.
 
Jardine Matheson is a diversified business group focused principally on Asia, and its businesses comprise a combination of cash-generating activities and long-term property assets.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)