Eng Tek at 3-month low after downgrade
Publish date: Mon, 17 Oct 2011, 09:21 AM
Eng Teknologi Holdings Bhd, a Malaysian electronic components maker, fell to a three-month low in Kuala Lumpur trading after its shares were downgraded to "sell" from "buy" at OSK Holdings Bhd.
The stock dropped 1.7 percent to RM1.77 at 9:07 a.m. local time, set for its lowest close since July 1.
Its fair value was cut to RM1.45 from RM2.50, OSK said in a report today, adding that flooding at Eng's Thai factory made it "even more cautious" about its privatization offer. -- Bloomberg
The stock dropped 1.7 percent to RM1.77 at 9:07 a.m. local time, set for its lowest close since July 1.
Its fair value was cut to RM1.45 from RM2.50, OSK said in a report today, adding that flooding at Eng's Thai factory made it "even more cautious" about its privatization offer. -- Bloomberg
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stockoperator
Where got fund house downgrade a stock becoz of natural disaster such as floods? This must be a big joke. Commom sense will tell u recovery is the fastest once floods subsides.
2011-10-20 00:16