<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 10): Shares in Media Chinese International Ltd (MCIL) jumped 13.89% this morning following an upgrade on positive technical outlook on the stock.</p></div>

<div class=newsTextDataWrapInner><p>At 9.26am, MCIL rose 2.5 sen to 20.5 sen for a market capitalisation of RM345.88 million.</p></div>

<div class=newsTextDataWrapInner><p>CGS-CIMB Research has upgraded MCIL to “add” at 18 sen with a higher target price of 30 sen (from 16 sen) and said while MCIL’s core businesses continue to sag, its lucrative real estate and net cash together form 154% of its market cap.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a note today, the research house said it is of the view that there is value emerging in MCIL, given that there is a mismatch between its asset value and stock price, now at an all-time low.</p></div>

<div class=newsTextDataWrapInner><p>“Upgrade MCIL to Add as valuation looks attractive.</p></div>

<div class=newsTextDataWrapInner><p>“It is trading at a 57% discount to CY21F P/BV, and 93% of its share price is backed by net cash,” CGS-CIMB Research said.</p></div>


KUALA LUMPUR (Dec 10): Shares in Media Chinese International Ltd (MCIL) jumped 13.89% this morning following an upgrade on positive technical outlook on the stock.

At 9.26am, MCIL rose 2.5 sen to 20.5 sen for a market capitalisation of RM345.88 million.

CGS-CIMB Research has u...

Media Chinese Intl jumps 13.89% on upgrade, positive technicals  

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