Charts (technical analysis) don't lie. It is based on the (historic) price movements to interpret the direction (formed by behavior of the market - buyers and sellers towards the stock) of a particular stock.
No system is perfect.
Well, if one based on fundamentals, take for example Gadang (most popularly known in the community on its fundamentals), and hold on to it, the investor would be very unhappy now.
no doubt that it is a big success for Mr Boo to reverse take over Yong Tai with the prospect of Impression Melaka. we hope this project can be materialised soon. all the best Mr Boo.
Yong Tai has started to fly after the China parties subscription of the preference shares. Admiral Zheng He just landed at Impression City, Melaka. And the Chinese parties are chasing YongTai shares to the sky.
Well it is important. if it is thru open market, then SVI might be making a risky investment at this price. Yong Tai PE is about 50 now. Unless the impression city can become a successful story, else if the project fail then that's it. But if thru private placement, then what is the price they bought, how much they invested in Yong Tai.
From what I understand is SVI is some sort like a MLM, well I am not saying it is illegal as I dun not have any proof so far. SVI treats their member as investor, if SVI invested money in Yong Tai is coming from the SVI so-called investors, then SVI is putting their investors at a risky-position.
To answer your question, what I can think of is by investing in Yong Tai, SVI will be more easy to attract people to join them by promoting that they have together with a Bursa listed-company invested in a GDV RM5.4 billion in Melaka Impression City. Isn't it sounds more convincing when you show this to your potential investor.
SVI will buy 10% of Yong Tai shares in the open market. Not private placement. They told their members the good prospects of Yong Tai earnings in early 2018 when Impression Melaka opens.
On behalf of Yong Tai Berhad (Yong Tai or the Company), we would like to clarify that SV International (SVI) is not a major shareholder in Yong Tai neither did the Company and its major shareholders have sold their stake to the latter.
Please be informed that Yong Tai had recently completed its private placement with an oversubscription rate of 1.96 times and placed out the 70 million new shares to reliable and renowned institutional investors.
Apart from that, Yong Tai has not done any business transaction with SVI for its property development particularly the Impression City and Impression Melaka projects too.
The rumour of SVI become the major shareholder of Yong Tai is not true.
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....
Huat1
2,509 posts
Posted by Huat1 > 2016-11-08 10:41 | Report Abuse
Trendspot do not look at fundamentals at all.
It is based on Technical Charts only. The charts shows uptrend.