Naim 's attempts to rebound was prevented by persistent selling by some mid-size fund . n only managed to end at 0.955 , down 2.5 sen(-2.5%). for some unknown reasons,some funds are not keen to see NAIM realise its upward momentum at this junction. Anyway, the selling was well absorbed by the buyers who were contend to bide their time , to make a strong comeback. Perhaps, there will be clarity tmrw on the outcome of tussle between the NAIM bulls n bears.
When the price touched 1.06 and down to 1.03 ppl also said well absorbed ...the next day dropped to 0.975 also well absorbed... now 0.955 also well absorbed.... very optimistic..lols
As in drop a bit but if got fund keep sell, price may continue drop a bit, as traders r cautious n dare not b too gungho until they r certain Y n more of buddies join in once selling pressure is less
Perhaps, they remembr the recent eg of FGV , which was beaten down to lows 85s despite favourable news but since rebounded strongly above 1.10 , within few days
1. Naim (95.5sen) No of share volume: 514m Market Cap: 491m
2. Dayang (RM 1.93) No of share volume: 965m Market Cap: 1862m
Naim have 26.4% stake in Dayang = RM 491.6m = whole Naim value
The fact Naim is construction (orderbook RM 2 billion) and property (2600 acre lanndbank) stock. Naim have 26.4% investment in associate dayang already is its entire market value give rise to Naim core assets are essentially FREE.
Despite possess huge landbank with 3 flagship property project in Miri, Kuching and jewel crown mulitbillion Bintulu Parago + construction orderbook, Naim balance sheet remain very healthy with cash holding RM 310m, and short+longterm borrowing RM 510m.
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....
Kim33
961 posts
Posted by Kim33 > 2019-10-17 14:37 | Report Abuse
Dayang drop naim follow, Dayang up naim drop