Bloomberg News

Malaysian Resources, Gamuda Rise as UOB Says Buy on Rebound Play

September 29, 2011

Sept. 29 (Bloomberg) -- Malaysian Resources Corp. and Gamuda Bhd. rose in Kuala Lumpur trading after UOB-Kay Hian Holdings Ltd. said investors should buy these “downtrodden” property and building stocks that are potential “rebound plays.”

Malaysian Resources, a property and construction group, surged 8.5 percent to 1.78 ringgit at 4:27 p.m. local time, set for its highest close since Sept. 21. Gamuda added 1.4 percent to 2.90 ringgit.

To contact the editor responsible for this story: Chan Tien Hin at thchan@bloomberg.net


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