today i added another 50,000 shares @ 0.96... queuing another 50,000 at 0.95. not sure if it will hit 0.95 today or not... if you guys want to sell at this price, I will be very glad to absorb...
@ everise. There is always a reason for pushing down the share price of a company. For example when I was the CFO of an overseas property company, a shareholder who is famous for asset stripping tried and failed to get on the Board. And so what he did was he sold his holding pushing the shares price down. The buyer was his son and then his son sell it back to him at even lower prices thereby making the market panic. He then collect more shares and then he give notice that he wanted to takeover the company if he is not on the Board. I remember this case very well because it spoil my family holiday as I ended up spending my holiday dealing with the possible takeover while I was overseas. In Evergrn case, it is possible that one of the major shareholder trying to get the company cheap. You can see that the share is trading well below asset backing. If I am the CFO I would probably be instructed by the major share holders to privatise the company.
May be you are right. But current price is not best entry level. Fair value for the share price is 1.80. They will try to accumulate below 0.80. Other wise not much meat...
The usd index climbed sharply from 92.6 in 2/5 to 97.5 in 22/7, within this period, you can see some export counters climbed back. Why this counter price still down?
Ex_Cfo, thanks for your sharing. Nice one. I'm confident with this company's track records and ongoing business expansion plans and upgrading in progress. In my opinion, the current RM currency is in a sweet spot for most manufacturers and exporters based in Malaysia and should be weakening towards the near term due to political fiddling.
The kuo family controls EVERGRN, do u imply the scenario as possible takeover from this family of major stakeholders combined?
iloveshare128, I'm glad that u add more buying to support. More value creation is in the pipeline by the company so you add more shares at bargain price is sensible and logical. I've added more below 1.00 myself.
moneykj... i think USD was weaker during Jan-Mar (around RM3.9x) and during April-June, USD had strengthened... so the worst Forex losses is over and I anticipate some forex gain in Q2 (April-June) instead of Forex losses (as the account would compare the trade balances against the USD closing price ended March 31st)... the only tradeoff is recently Evergreen's average selling price of MDF is lower.. so the forex gain may be wiped off due to the lower selling price... that is why I expect a similar result in Q2 (a big drop of revenue/profit) is very unlikely... by end of Aug we can tell if my assumption is correct or not...
dusti, please enlighten all of us here with your insight on the so-called "rock bottom price"... so far I only knew God can tell... for me, as long as I think it is undervalued, I will still accumulate for future price re-valuation... the intrinsic value will be unveiled one day and I see loads of safety margin in this share...
I see a lot of optimism on this counter. Some acknowledge it out right, others trying to influence to drive down the price for greater return. Alright.
haha... i start to suspect Destiny is the syndicate behind to push down the price.. anyway.. i am glad you did that... today I added another 100,000 shares of Evergrn at such discount.. thanks for your help to push down the price so that i got to buy more at discounted rate...
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....
Peter Wang
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Posted by Peter Wang > 2016-07-29 11:36 | Report Abuse
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