I understand TP before BI is rm3. It hit 2.28 opening. So if it can go up to 3.80-2.85 is also good profit taking! All the best! Can't go wrong with this counter.
I think this is quite normal due to price correction as the price has been shooting up continuously in last 10 days. RSI is high and showing overbought signal..... nevertheless value investor may wait for news while short term player may take their gain....
Mr Chai 10 lots..5 lots disposal won't hurt. Only drops of water in the ocean. After such a sharp up trend, it's only natural for profit taking for those that are happy with 0.10 to 0.20 gain. Fundamentally this share have not reach its peak yet with the BI and 1B contract yet to announce.
KUALA LUMPUR: Sarawak Energy Bhd (SEB) is set to award several power contracts worth a combined RM1 billion soon, with Sarawak Cable Bhd tipped to be among the recipients.
SEB had evaluated the tenders for the RM1 billion 500kV transmission backbone project to help power up the Sarawak Corridor of Renewable Energy.
Its corporate communications senior manager Haniza Hamid told Business Times that a final clarification meeting with the tendering parties will be held at its headquarters in Kuching next month, after which the tender award announcement will be made.
“We’re in the process of finalising internal arrangements prior to inviting the preferred tenderers to attend a final clarification meeting,” she said last Friday, without revealing the date of the announcement or the preferred bidders.
The 500kV main transmission line project comprises three packages, namely the 196km transmission line from Similajau to Mapai, the 174km transmission line from Mapai to Lachau and the 141km transmission line from Lachau to Tondong.
Sarawak Cable is the frontrunner for the contracts, given that it is the only integrated power cable and transmission player in the state and the region.
In a report recently, AmResearch Sdn Bhd said it expects the decision on the tender award to be announced soon after the completion of Sarawak Cable’s rights and bonus issue.
“Sarawak Cable has completed a one-fortwo rights issue last month, which was oversubscribed by 9.8 per cent. The company is now in the midst of completing a one-for-five bonus issue of 46.6 million shares,” the research house said.
In June, Sarawak Cable was awarded a RM32.87 million contract by SEB to build the proposed 132kV Tudan-Miri Airport transmission line.
It was reported that Sarawak Cable is chaired by Chief Minister Tan Sri Abdul Taib Mahmud’s son, Datuk Seri Mahmud Abu Bekir Taib, who is also the company’s largest shareholder.
Meanwhile, Haniza stressed that SEB has given its assurance that all tenders are evaluated through rigorous selection processes and, hence, there is no question of favouritism.
So.. It is next month..Jenny if you can still make profit by selling now, and would rather put the cash elsewhere, by all means, sell.. But if you will make a loss or minimal profit by selling now, then keep like me... Heh he he..
Mr Chai bought another 15500 units today...so he was just cashing out to cash in again :) clever mr chai.. May be good news soon so he increase his stake or he just wanted in during the red sale..
Looking at the price Mr Chai bought, he also don't know market going to drop so much the past two days. Good that he is buying, this show that there is more upside to this counter.
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....
Abudance
2,211 posts
Posted by Abudance > 2013-08-19 13:48 | Report Abuse
I understand TP before BI is rm3. It hit 2.28 opening. So if it can go up to 3.80-2.85 is also good profit taking! All the best! Can't go wrong with this counter.