FlintstonesAdCool, fundamentally, Parkson isn't cheap at all. You are looking at a business producing returns below cost of capital. Businesses like these are valued at NTA. Currently, Parkson is absolutely fully valued. Only investors believing in the great recovery of China would pay a premium for Parkson. But then, if Parkson goes down to less than RM 2, then it is time to whack like no tomorrow! Parkson is a good business. You just need one good timing to whack its butt.
ks55Look at the difference between share buy back and share bought by WC.
Share buy back always at 1650hr with price 20 or 30 bids higher than last transaction at 1645hr. Volume for share buy back always account for 50% or higher of the total volume. Why so? Ah Kong's money.
Now our hero WC buy PHB. How did he buy? Park at the lowest price so people will throw to him. How much he buy each time? 20k? 30k? 40k? And he did not buy everyday! Why? He has to use his own money.
ks55WC is a 71 year old man. What do you expect from him?
Fly to Beijing, fly to Shanghai, Hongkong, Hanoi, Rangoon, Colombo, Singapore, Jakarta and stay in Kuala Lumpur to attend to management meetings and board's meetings as Chairman and Managing Director. Does he still have that type of energy?
Not to forget he has bigger problem with Megasteel, LionCorp, LionDiv, LionInd to make him sleepless every night.
ks55Price alternating at 2.33 and 2.34 from 1600hr to 1645hr. At 1650hr, 460k bid at 2.45, all done at 2.40. Who is the bidder? Ah Kong buy back with Ah Kong's money. What is the integrity of share buyback? 你有聽過哪個大股東很好心會幫大家護盤的嗎? 會想支撐股價的原因，通常是有難言之隱。
ks55Ah Kong will again do the same trick tomorrow. Why? 不外乎是大股東有質押股票， 也就是拿股票抵押來借錢，萬一股價下跌，抵押品價值會不足， 因此就拿公司的錢來買進庫藏股，支撐股價。