KUALA LUMPUR (May 19): Malaysian Resources Corp Bhd (MRCB) extended its loss in early trade today as its proposed rights issue did not go down well with shareholders.
At 9.29am, MRCB dipped 0.65% or 1 sen to RM1.53 with 4.27 million shares traded.
The Edge Financial Daily this morning reported that MRCB succumbed to heavy selling yesterday on concerns that some shareholders might be reluctant to pump fresh cash into the conglomerate. Shareholders who decline to subscribe may suffer from up to a 50% shareholding and earnings dilution.
TOP PICKS BY EDGEPROP
Jalan Dato Bandar Tunggal
Seremban, Negeri Sembilan
Glory Beach Resort Apartment
Port Dickson, Negeri Sembilan
Subang Jaya Industrial Estate
Subang Jaya, Selangor
Kepong Industrial Land, Taman Usaha Jaya
Kepong, Kuala Lumpur
Duduk Huni @ Eco Ardence
Setia Alam/Alam Nusantara, Selangor
Duduk Huni @ Eco Ardence
Setia Alam/Alam Nusantara, Selangor