Bright closed the day with a positive note with very low volume indicating Buyers decided to wait and see if the selling is overdone. White small candle body with small tails on boths ends also signal an even battle between the BULLs and BEARs. I take this opportunity to sell some stocks based on a weak buying sentiment. Now the odds are 50:50 for winners and losers. Volumes will continue to be at this range until more corporate developments take place. We need Ricky to promote this stock on the news again. Until then my eyes are on Kretam now.
HC lee know u have been around longer than me..your observation is not wrong but just as seen clearly their tactics are pump up price and dump..my advice buy lower if can..they kill a lot of contras also genuine investors by last few days price activities..I dun have much faith in the new management given their current style.cheers but I will be around to support when price back to 0.60s..
When right issue announced I start to have interest n my average price was 0.68..u see if current price still holding as other ppl who bought in the same time,ROE is about 3-4%..as of now..2mths+ trade just to earn 3-4%? Guys though it's better than FD but else where mkt has better return stocks...
If recent downtrend minority have been collecting I am sure the majority will make us throw back to them later...eg: buying lousy metals, profit turn to loss and etc...negative sentiments to push it even lower..
Fortune he is a leech until he suck dry all the blood then again issue rights issue to suck more from minority.Maybe thats why recently announced enlarged share capital...wow! If issue all authorised share capital a lot of blood can suck...but i will say damn you leech!
piotoy...must be patient...your earlier level of 65 cts wud be a safe level but i think may not get it...probably may be range bound until next financial is out.
Thank you very much Sifu. At first I also plans to hold long term for Bright. I think it had bright future. But I never check it director. So when I knew about its director. I a bit scare lo.
I think any price below 70 sen shd be a good price to buy. Buy and keep as this stock hasn't run up yet unlike many others. Besides it has a strong balance sheet with good quality assets in a recession proof industry and its clients are mainly multinationals. If all ikan bilis start to buy, i think the leech major shareholder will start to worry even though he may have cornered the warrants. Anybody buying this counter must be prepared for volatility but if you are a strong hand, there is nothin to worry.
Fortune leech is sleeping with the bulls now..Bears are running lose in the mkt.Give leech a 2nd chance maybe later..go for short holiday n come back in 2 weeks..
2 options now as may is low volume trading mth.Many operators are probably taking a break.1st option buy 100lots at every dip of 1cents n keep accumulating until reach ur maximum holding.2nd option is to hold what u have and wait till the bulls are back later..
piotoy...very good suggestion. As long as the company perform to expectation, we have nothing to worry. If Ricky thinks he can push the price down as he likes, it may just gives others a chance to go in cheappppp.
Lee if today up back to 0.705 it will be a fresh bull kid on the block..i doubt it will happen..but anyway just watch n see..as said down i will buy down averaging my price but wont buy all at one shot.
I bought Bright today as advise by friends, Bright will see revenue increase due to 2 new production lines. I do know Datuk Ricky Wong, a young entrepreneur and philanthropist. He is hard working as far as I know. I don't know about rumour surrounding negative news as reported here. Thank you.
The Luxembourg-based HALLEY SICAV-HALLEY ASIAN PROSPERITY Fund has acquired 2,635,000 shares (about 6%) in Bright Packaging Industry Berhad due to the reason - "Good feelings on this company. We find it interesting to hold it in our portfolio
A lot have been said about the Board of Bright Packaging Industry Berhad. It seems no one has really focused on the investors trying to oust the board at BPI. I had a look at the some of the companies that Syed Ali Alhabshee controls. Apparently he owns more than 1/3 of Redtone International via his investment vehicle Indah Pusaka Sdn Bhd. Since his appointment as Chairman of Redtone last year 2012, it has turned around Redtone and being awarded more than 100mil project from MCMC and LTE Spectrum of 20MHZ in 2600MHZ region. Kenanga has forecasted it will earn in excess of RM23mil profits in 2013 (as highlighted in another of your posts). Similarly, as Chairman of AMedia even before the company got listed, it has registered 16m in net profit with a CAGR of about 70% year on year. I believe AMedia also has license in broadcasting. Perhaps he already has plans to turn this company around?? And judging from past experience and the fact that he spent significant resources in building up his stake of Bright Packaging Industry, I wouldn't bet against him. The current Directors at Bright do not seem to have the vision or corporate expertise or else they probably wouldn’t be in this predicament in the first place. I wouldn’t be surprised if the new Board announces ‘a new major contract’ once he takes over
I had some time to investigate the other investor as well, Ang Lay Chieng who is also seeking a board seat a Bright Packaging Industry Berhad. She previously worked in PwC and Affin Merchant Bank and is listed as a Chartered Accountant and a Fellow of Chartered Certified Accountants. She alongside Alhabshee appears to have the corporate experience and connections to take Bright Packaging Industry to the next level of growth. Not much is known about the current directors at Bright Packaging, there is literally no information on them. Word on the trading floor appears to favour the new investors. I think if one got in early enough, this stock is worth holding for the long term if you can withstand the volatility in the mid-term. My thoughts are, if the investors take control of the board, the stock should spike up and I am pretty sure the new board will announce something positive. Logically, the investors would have thought this through and must have something on the cards. It’s always worth trading with the ‘big boys’ rather than against. If your analysis is right and that the four challengers have gone in between RM1 and RM1.75, those who are in at this price range should also be hoping for a spike up after the EGM. It will be worth paying close attention to the volume in the coming days leading up to the EGM
Personally i had mixed feeling about Ricky and gang but operationally, i think we are on the right track. Syed Ali, with his connections may help to bring in more business to Bright and as "Bright" mentioned some of his companies like Redtone, UMZA are doing quite well. Most of the key management staff has been retained by Ricky except those aligned to Demi Maju..so even though it is a hostile takeover, management is not really affected..in fact it is reinforced. I hope the new proposal for shares to be issued to Directors etc will not be at the detriment to minorities as Ricky had a habit of manipulating ( suppressing ) the share price to his advantage.
Hi Lee just got time to read a few interesting post by our new joiner who commented positive notes on bright.In my view there is definitely an EGM upcoming probably b4 the next quarter report announcement as latest announcement confirmed on the proposed SIS as approval is required by shareholders.However what is unknown is the price of issuance.If what u say is right in manipulating, option price maybe nearer/same to the rights issue price.This maybe the cause for the consistent selldown that lasted for days.I will hold my further buys as of now, as the trend is down as of today and is going to be deep and maybe even breach the 50s.
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Posted by qwerty > 2014-04-23 10:08 | Report Abuse
Started uptrend, do not miss.