Yesterday, prices stabilized a bit YTLPower was Foreign fund’s top net sell counter (53m) YTLPower was Local institution’s 2nd top buy (32m) But interstingly, YTL was Local institution top sell (35m) Retailers (top buy counter) was YTL (32m) Looks like everyone are rotating their portfolio to suit their needs, with Foreign funds intermittently taking profit whenever they sees fit, as many of them bought cheap.
Yesterday, YTLPower dropped to Foreign fund’s 3rd top sell from No 1 (16m) It was also Local institution’s 3rd top buy (15m) YTL on the other hand dropped off from both foreign fund and local institution top buy/sell rankings. On the whole, Foreign fund bought net 226m net on Bursa yesterday See what you can make out of it.
News: 600MW Hydrogen-ready Combined Cycle Gas Turbine in Jurong Island. Think long term, long term. Every country needs more energy! https://youtu.be/bTr4wU6goeM
press down price ..... call warrant YTL C78 expired 28 oct 2024. these 3 working day price fixing. exercise price 2.2 need press down to make it no value
I said this about 3 weeks back => YTL's continued silence and a couple more negative news will bring price to 2.10 then 1.90 then 1.60. Wiping out lots of capitalisation and therefor unable to qualify for major infrastructure projects. This company is then toast. ====> and now this week we are getting close to 2.10 level .... If 2.10 level breaks then we will greet 1.90 .....
That's no bad news on YTL, the MACC case on 1Bestarinet project is just a smoke and mirror tool used by business rivals to confuse investors. YTL is not keeping silent and has already said that they would cooperate with MACC in the investigation. In fact, since the 1st day of MACC visit to YTL Comms office in September (and that visit was informed in advance, not even a raid), there has been no query to YTL Comms personnel as YTL has already furnished all relevant info to MACC. I believe this case will be gone in sooner or later.
It will not have any impact at all on YTL's ability to bid for mega infrastructure projects. In fact, YTL just had the groundbreaking ceremony for the 600MW hydrogen-ready CCGT of PowerSeraya yesterday. YTL got the S$800m construction contract after its unit YTL PowerSeraya won the bid from Singapore EMA early this year to construct this new generator plant in Jurong Island.
The selling today may well be mother share dumping by some call warrant issuers who have a few call warrants on YTL and YTL Power expiring by end Oct, especially RHB who has both a call warrant on YTL and YTL Power expiring on 28 Oct. RHB is not seen to issue any more new call warrant on these 2 counters so they may dump all the mother shares hedged in these few days leading to 28 Oct to depress the share price and hence the final settlement price of the call warrants. RHB is aiming to press the share price of YTL below RM2.20 the conversion price and YTL Power below RM3.50 the conversion price of the call warrant.
Some selling may also come from certain foreign funds who are liquidating big caps in general in Bursa for their strategy to move some funds to China and HK.
Hence, after this wave of selling I expect YTL and YTL P share price to rebound gradually.
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....
bsinvestor
183 posts
Posted by bsinvestor > 2 weeks ago | Report Abuse
time to buy more. look stable now.