Bloomberg News

UEM Rises to One-Week High After CIMB Rates Stock ‘Trading Buy’

September 29, 2011

Sept. 29 (Bloomberg) -- UEM Land Holdings Bhd. rose to a one-week high after the Malaysian developer was rated a new “trading buy” at CIMB Group Holdings Bhd., which said the company is “attractive” for its improving earnings outlook.

The stock gained 4.2 percent to 1.74 ringgit 12:17 p.m. local time in Kuala Lumpur trading, set for its highest close since Sept. 21. CIMB’s price target for the stock is 2.57 ringgit.

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


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