MRCB a 'potential beneficiary'

Malaysian Resources Corp (MRCB) is a “potential beneficiary” from a plan by the government and the Employees Provident Fund to form a venture to promote the development of 3,000 acres of land outside Kuala Lumpur, HwangDBS Vickers Research Sdn Bhd said in a report today.

The stock, controlled by the Employees Provident Fund, climbed 3.8 per cent to RM1.65 at 9.51 am Malaysia time, set for its highest close since March 7, 2008.

Meanwhile, chief executive officer Mohamed Razeek Hussain Mericar said Malaysian Resources wants to participate in the development of 3,000 acres of government land in Sungai Buloh, outside Kuala Lumpur.

The comment comes after Prime Minister Datuk Seri Najib Razak said yesterday that the government and the Employees Provident Fund, the biggest shareholder of Malaysian Resources, will form a joint venture to promote the development of the land.

By Bloomberg