Malaysian Resources Corporation – stock code 1651
Technical Comments: Investors should look to accumulate MRCB for further rebound potential towards RM1.61 (61.8%FR) and RM1.70 (76.4%FR), with tougher hurdle from RM1.84 (21/5/13 peak). Retracement support from RM1.46 (38.2%FR) is reinforced by the lower Bollinger band (RM1.41).
by TA Securities
Malaysian Resources Corporation Berhad (MRCB) is an investment holding company. The Company is engaged in property development and investment, building services, environmental engineering, infrastructure and engineering and construction related activities. The Company is a developer of residential, commercial and industrial properties in Malaysia. It operates in five segments: engineering and construction, property development, infrastructure and environmental, building services, and investment holding and others. On October 11, 2010, Bitar Enterprises Sdn. Bhd., a wholly owned subsidiary of the Company acquired 70% of the interest in MRCB Land (Australia) Pty. Ltd. On October 29, 2010, the Company acquired the remaining 60% interest in GSB Sentral Sdn. Bhd. On December 30, 2010, the Company acquired additional 18% interest in Cosy Bonanza Sdn. Bhd. (CBSB). With this acquisition, CBSB became a 65.7% subsidiary of the Company.