Directors sold huge volume at 64 cent as he may need the cash to convert their warrants and on the same day someone bought 17M shares at one shot. I'm sure he can see the value of the counter that we may not or unable to see. BTW, after all the dust has settled, Fitter cash coffer will increase by RM 51M which will definitely improve its gearing ratio. The management has also bought back about 5% of its outstanding shares, hopefully, this treasury shares can be used as share dividend and then the picture will be totally different .
With reference to your query and in reply, we wish to inform that the decrease in the Group's revenue (by 12% as compared to FY2011) are mainly due to :
1) Construction, Engineering & Property Division - due to completion of Festival Mall project (a major project for the division) in FYE2011.
2) Renewable Energy & Palm Oil Division - reduction in revenue from oil-palm extraction operation due to "La Nina" effect and high CPO inventory level in the market
There is no danger here, the management bought back about 7% of its own stock at the ave. price of 62 sen, the stock more or less may have reached the bottom.
i am dilemma, i dont know i should cut loss or leave it alone. i bought it at 0.945,such a high price. thinking to cut loss and go for dividend company, loss huge.....what do u think?
some positive sign because the company bought it own shares at current price. Two times already it went up to 65 sen but difficult to break. dont sell at current price. slight rally after this may be you can consider if want to get out...
i checked from other forum, one of the investor claimed that, perhaps, company will pay dividend due to cash rich in hand after warrant conversation, it was happened in 2008. try to hold for another quarter then!!!!I am upset because it is a very good fundamental company yet the price keep going down, same as ytl power!!!!!Thanks for the advices:):)
The sell out most likely is due to arbitrage and some holders adjusting there holding after applying for the warrants especially the majority holders. At the moment it may not move up even though the fundamental is OK and the drop shouldn't be severe , in fact I just bought in some to start with.
Well support at 0.60 past 2 weeks.High time to move up to 0.65 and next level at 0.72.Improved vol. past 2 days.Renew interest.Good sign.Let see how it goes 1st 3 days of 2013.Happy Tradin.
Sarjit, if really pay dividend is really a great news. this company have a good fundamental and yet the director have confident on it also. 2013 will be a better year!
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....
Eric Tee
402 posts
Posted by Eric Tee > 2012-11-16 15:33 | Report Abuse
the answer is issue new warrant will bring the share price more critical. today close 0.63