MMC has made a new high

This morning, there are news reports that Syed Mokhtar plans to inject the Jeddah port development project worth RM1.6 billion, secured by Seaport Terminal Sdb Bhd (the controlling shareholder of MMC) into MMC. Following these reports, MMC has broken above its all-time high of RM4.285 (take that as RM4.30) recorded in January 1994. At 3.30 p.m., MMC is at RM4.40- gaining 24 sen. You may buy now or when the share price drops back to RM4.30.


Chart 1: MMC's monthly chart as at Jan 17


Chart 2: MMC's daily chart as at Jan 17