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Friday, January 21, 2011

Kencana, M'sia Marine fall on downgrades (CIMB)

Kencana Petroleum Bhd and Malaysia Marine & Heavy Engineering Bhd dropped in Kuala Lumpur trading after their stock ratings were cut to “trading buy” from “buy” at OSK Research Sdn Bhd, which cited “lofty valuations.’’

Kencana dropped 1.5 per cent to RM2.60 at 9:38 a.m. local time, set for its lowest close since Jan. 6. Malaysia Marine slid 0.9 per cent to RM6.33. -- Bloomberg

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