In the Business Times today, Ranhill and its unit Ranhill Utilities (RUB) said they would always seek proposals to improve shareholder value in response to queries by Bursa Malaysia. There were reports that Tan Sri Hamdan Mohamad, the group's president and CEO, is planning to take Ranhill and RUBHD private.
Technically, the stock broke out of its bullish wedge pattern. Could see further upside from here. Upside target (is roughly based on the bullish wedge) is around RM2.75-2.80.
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