MARKET UPDATES :
1MDB denies overpaying for energy, real estate assets and getting preferential treatment in power plant tenders.1MALAYSIA Development Bhd (1MDB) has cleared the air on allegations it overpaid for certain power plants and plots of land in Penang, and received preferential treatment in power plant tenders.1MDB also addressed questions about its debts and denied “insinuations” that it had spent a whopping US$100 million (RM329 million) to secure an estimated RM11 billion power plant project coded Project 3B.
STOCK RECOMMENDATION :
BUY GENTING MALAYSIA ABOVE 4.300 TG 4.350, 4.420, 4.520 SL 4.230
1MDB denies overpaying for energy, real estate assets and getting preferential treatment in power plant tenders.1MALAYSIA Development Bhd (1MDB) has cleared the air on allegations it overpaid for certain power plants and plots of land in Penang, and received preferential treatment in power plant tenders.1MDB also addressed questions about its debts and denied “insinuations” that it had spent a whopping US$100 million (RM329 million) to secure an estimated RM11 billion power plant project coded Project 3B.
STOCK RECOMMENDATION :
BUY GENTING MALAYSIA ABOVE 4.300 TG 4.350, 4.420, 4.520 SL 4.230
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