UEM Land Holdings Bhd and Mah Sing Group Bhd fell in Kuala Lumpur trading after CIMB Group Holdings Bhd downgraded Malaysia’s property industry on concern economic growth will slow this year.
UEM Land dropped 4.2 per cent to RM2.28 at 3:32 p.m. local time, set for its steepest decline since Nov. 1. Mah Sing lost 5.7 per cent to RM1.98, bound for its largest drop since Sept. 26. UEM Land was cut to “neutral” from “trading buy” and Mah Sing was downgraded to “trading buy” from “outperform,” CIMB said in a report. -- Bloomberg
UEM Land dropped 4.2 per cent to RM2.28 at 3:32 p.m. local time, set for its steepest decline since Nov. 1. Mah Sing lost 5.7 per cent to RM1.98, bound for its largest drop since Sept. 26. UEM Land was cut to “neutral” from “trading buy” and Mah Sing was downgraded to “trading buy” from “outperform,” CIMB said in a report. -- Bloomberg
