STERPRO has been trading above its upward sloping 20-Day Moving Average which is a good sign. Furthermore, the next resistance level is quite far STERPRO has been trading above its upward sloping 20-Day Moving Average which is a good sign. Furthermore, the next resistance level is quite far at 0.22.
DULY BE reminded that CONTRA is to be avoided for this counter. There are TWO (2) BIG WHALES eyeing this company, ONE being involved in retail and property, i.e. A Conglomerate?? :) (for you all to guess it out this weekend).
AS FOR THE TWO (2) BIG WHALES, the answer 'WHO' will be out soon...so, just stay tuned.
During the past 2 weeks, 2 significant events just happened...
1) What is the rationale of acquiring a substantially large amount of warrants to the tune of RM 0.125?? The exercise price is RM 0.48... --> A REAL corporate deal is 'BREWING'??...RTO in the cards?
2) ESOS option - 32M shares @ 16 cts. At present, 19.5M new shares issued...remaining 12.5M shares!!
Rahza, TP 23, 25, 30 cts?? Sure?? It it more understandable when it begins with AT LEAST a '5x' when it involves a conglomerate?...:)
This is not an inducement to buy or sell shares...trade wisely forumers. Slowly and steady...AVOID CONTRA!!
By Syahirah Syed Jaafar | 2017-02-17 20:08:27 KUALA LUMPUR (Feb 17): To reduce dependency on its ICT business, loss-making Sterling Progress Bhd is venturing into the hotel management business to seek alternate revenue streams.
It is buying the business rights to the brand of T Hotel and Time Capsule Hotel for RM3.5 million from Tandop Hotel Sdn Bhd, which is also providing Sterling Progress a profit guarantee of not less than RM800,000 per annum for five financial years from 2018 to 2022.
In a statement to Bursa Malaysia, the company said it expects the new hotel management business to contribute positively to its future earnings and improve its financial position.
"The group will look for more opportunities and when appropriate, implement the changes which include [the diversification of] its income stream," it said.
The ACE Market-listed firm said it intends to finance the acquisition via internally-generated funds.
Though the acquisition is not subject to the approval of its shareholders, it said it would seek shareholders' approval for the foray into the hotel management business.
Sterling Progress shares slid 0.5 sen or 2.44% to 20 sen today, giving it a market capitalisation of RM49.46 million.
checked the history of the company and owner , before buying, buying into budget hotel ,which we dont even know it at the rest of malaysia. but stock run like buying into Hilton Group
By Syahirah Syed Jaafar | 2017-02-20 18:39:00 KUALA LUMPUR (Feb 20): Sterling Progress Bhd remained in the red for the third quarter ended Dec 31, 2016 but managed to narrow its net loss to RM592,000 from RM5.17 million a year earlier.
Revenue fell 62% to RM22.99 million from RM61.82 million on lower revenue recorded for the sales of notebooks and smartphones, the information and communications technology group said in a filing with Bursa Malaysia.
For the first nine months of the financial year, the group reported a lower net loss of RM7.4 million compared with RM16.51 million for the previous corresponding period. Revenue fell to RM79.51 million from RM150.57 million.
The group said it expects the Malaysian retail sector to face a challenging year ahead in 2017 in view of the anticipated reduction in consumer spending.
Last Friday, Sterling Progress said it is venturing into hotel management to seek alternate revenue streams.
It bought the business rights to the brand of T Hotel and Time Capsule Hotel for RM3.5 million from Tandop Hotel Sdn Bhd, which is providing Sterling Progress a profit guarantee of not less than RM800,000 per annum for five financial years.
Sterling Progress shares closed up one sen or 5% higher at 21 sen, with a market capitalisation of RM51.93 million.
Sterling Progress reports lower 3Q net loss, expects challenging year ahead Sterling Progress reports lower 3Q net loss, expects challenging year ahead Monday, 20 Feb 2017 KUALA LUMPUR (Feb 20): Sterling Progress Bhd remained in the red for the third quarter ended Dec 31, 2016 but managed to narrow its net loss to RM592...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Dash Dani
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Posted by Dash Dani > 2017-02-15 15:20 | Report Abuse
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