@powerwk: It announced a 2.75 sen dividend on 22/3. No ex date yet. OSK's most recent TP is 1.04. This is a good company and selling at a reasonable price right now. But I feel there might be other stocks that look a bit better than Glomac in terms of price movement. Like MRCB for instance.
Fandi I am assuming you made that "explosive" call based on the Edge Financial report, am I right? If not mistaken Glomac reported a RM22m profit. This should be good news translating to Glomac's bottom line. But i see the share range will probably stay sideway.then again, it may jump a few send higher like you said, due to the report and your informed research. All the best!
Yes, Glomac is one of the deeply valued growth stock. I like the management of the company which is very prudent but at the same time has a very acute investment sense. Dividend yield for this stock is better than FD. So no complain.
noticed the announcement of share buyback yesterday but not at a big volume. don't really get the part on the exercise of warrants. anyone can explain? thanks.
you're right. since 4th of july the buyback though in not so big volume has been consistent. for company with good fundamental like glomac, shares buyback should be view as positive sign. long term buy.
that's what i've thought. they're setting up a huge price wall to maintain the price around 0.85 and 0.855 for the purpose of share buyback. once the share buyback is over, it will go north very fast!
This is my personal opinion ,there are few possibilities when will the share buyback will be over:- 1) when they use up all the cash the allocate for the share buyback, 2) when share price have stabilized up to 10% of the reference price they are allow to buy back, or 3) they hit the quota - % of the allowable share to buyback. You might need to do read all the announcements made by them at Bursa & do your own research.From there you can estimate how much they have collected & how much cash they have used up. I personally like Glomac because I like their developments - all niche markets at strategic locations.
Indeed is another gd counter for long term but b very careful when to buy or buy more, bear in mind last few days Bursa has gone beyond the rise of many other region n likely to consolidate over the next few days , unless other regions r doing well !!!!
@ seehous no point for seller to raise up the price. everyday you can see the sell volume at 0.855 or 0.860 queed up with few hundred thousand lots. So if you wanted to quee at 0.87 it will never reach your target price :) They're building up the price wall on purpose so that buyers are not too enthusiastic into buying up the share price. Anyway agree with you that this is a very good fundamental share to buy. been sideways for so long due to buyback but i sense that the end of the buyback is near (disclaimer: never calculate so no idea what's the balance target) Cheers.
same like mulpha, this counter having active share buy back, but the share price is hardly moved. Anyway, i have the feeling that this counter is flying soon to RM 1.....
glomac1, can you confirm where you read this 1.1% buyback? i would love to have a black & white on it for record purposes. It means another 8.9% to go (as normally allowed under company's resolutions), and would like to calculate how much they have paid for the 1.1% share buyback. thx in advance.
Kc Loh pls check at bursamalaysia.com.my after 7pm. Today announcement glomac buy 50 lot at rm .84 total paid rm 42,306.60 treasury share at to date 8,155.800 lot ( 1.2% ), this is 2nd time sold treasury share . 2-3 years a go also sold 3.xx% to ?? At +- rm 1.25.. Glomac share can give u > 6.5% divined per years. This is long term investment counter . Share is not big deterrent when quataly profit is 2x . But 30 big share holder is investment company, unit truss, insurance company.
quite a dramatic sell off today since the past few weeks was consistently around 0.85 price range. hmm really a hard counter to predict. why not buy more now when the price is down to achieve the target buyback earlier. any thought on this KC?
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
danielsoh
110 posts
Posted by danielsoh > 2011-07-01 13:54 | Report Abuse
Target price 2.20....