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Tuesday, July 6, 2010

DJ MARKET TALK: Bina Puri Flat; May Rise On Possible LCCT Job

0710 GMT [Dow Jones] Bina Puri (5932.KU) flat at MYR1.14 in thin volume; off intraday low of MYR1.11, dealer says stock may rise to test MYR1.20 (yesterday's high) after firm says it expects letter of award to build new low-cost carrier terminal (LCCT) at Kuala Lumpur International Airport. Bina Puri says this in response to stock exchange query after the Edge Weekly reported the company is part of JV that clinched a MYR1 billion construction contract. Firm says hasn't received award, but "liaising" with Malaysia Airports (5014.KU), expects to get letter "soon." Didn't provide details or contract value. Malaysia Airports not available for comment. Dealer says awaiting further details, but job if awarded, will likely be sizable, providing "nice boost to bottom line."
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