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Monday, October 12, 2009

Glomac to see 'explosive' earnings growth

Maybank Investment Bank Bhd has rated Glomac Bhd, a Malaysian developer, a new “buy” with a target price of RM1.78.

The research outfit said Glomac will record "explosive” earnings growth over 2009 to 2012, driven by high-margin commercial projects.

The shares of Glomac Bhd rose 4 per cent to RM1.31, set for the highest level since February 18, 2008.

By Business Times

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