Besides if you already own WA, why sell now at 37c? Just keep it all the way for at the very least 1c more @38c. At best, you may make more. Only upside no downside from here. In fact may be a good idea to buy below 38c if you have cash to pick it up. 38c is now the NEW LOW - floor price. I see this announcement as a positive move for non contra players.

I agree with this. Maybe some proxies are buying now below 38c as much as they can.

"MalaysianIB_HongKong Yesterday recorded another dirty tactic in our history.

How could the Price Fixing be announced immediately without notifying when will be the Day 1- Day 5? It is not against the law but it is truly unethical."

@auditorandconsultant

Do you know the % votes required for them to pass the resolution at the CCM?

Ping Petroleum produces abt 1mil barrels p.a. at a cost of usd20. Brent at more than 65 means that their gross profit =1m x (65-20) = usd45mil p.a. Dnex will own 90% of Ping soon. Do the maths ..

https://edition.cnn.com/2021/02/25/politics/us-iraq-iran/index.html

US carries out air strikes in Syria targeting Iranian backed militias

if during the CCM, they don't get enough votes, the whole restructuring will fall apart. So they have to convince enough WA holders to pass the resolutions during the CCM, just like any company AGM or EGM. The question is what is the threshold for passing reso in the CCM - is it 51% or 75% etc.?

@auditorandconsultant

You guys did a good job so far. When MCO is over, I want to buy you a round of beer assuming you guys are based in KL.. ;)

https://youtu.be/vIcDqs5GLNw

Please watch this video news on why there is a global chip shortage. About 13min video.

It won't go away anytime soon.

I dont think we need to worry abt the gang so much as you can see the volume have dropped from last week. Dont forget that the majority of the holders are Th and other GLICs themselves. This is a bonus for them too. very soon want to buy also cannot buy..

Support is very strong at 38.5c.

Based on 5d VWAP including today, the price should be be between 37-40cents. If push somemore, the VWAP will go up further. Last Friday close 37.5c. So the new floor price shud be around 37.5c at least.

I think the risk mgmt for contra trading is totally different than buy and hold. Not comparable. If you trade contra, you must budget for potential losses in that 2-3days. If you can't afford or willing to lose that, then don't trade contra. Let's not confuse the 2 methods.

maybe we shud start our own Reddit forum...;)

yup. Now is 39.5c. new high. Anyway the fact that the price fixing date is not today or nearby means plenty of room for the late comers.

3.5m buy at 37c from 3 buyers only. The price action seems to imply ppl accumulating. The only possible big sellers are the majority shareholders of BIMB like PNB, TH etc. The GLICs. But why would they sell if BIMB is willing to buyback at a higher price?

I think it was wise advice to not look at the price today. Absolutely no reason for anyone to push down the price when it is BIMB who is paying us all.