Siab Holdings Berhad (KLSE: SIAB) is poised to challenge the key resistance level of RM0.150 following the recent game-changing events. Currently, the share price of SIAB is well supported at RM0.140, with reduced volume on selling pressure. We deem this as a BUY opportunity following these recent changes on the company.

New Management Team

Following the completion of the rights issue, SIAB welcomed two key person, Mr. Wong Yih Ming and Mr. Vincent Chu Yee Hong as Executive Directors of the company, where both of them have extensive experience in the construction industry. They are also the directors of Taghill Projects Sdn. Bhd.(Taghill) and Bimtech Solutions Sdn. Bhd. (Bimtech), a 60.0% owned subsidiary of Taghill.

Ballooning Orderbook

Taghill, upon joining SIAB, not only could enhance their profitability, but also secured a RM176.2 million from a property industry giant, Exsim Noordin Sdn. Bhd., adding the total orderbook of SIAB to a substantial RM2.06 billion. Beyond that, Bimtech with extensive exposure into the Building Information Modelling (BIM) also exposes SIAB to a different subsector of the construction industry, hence opening more opportunities ahead.

Conclusion

With all the good news, inclusive addition of new board members and stronger company as a whole, SIAB will slowly, but surely capture more investors' eyes. But for the shorter term, breaking the RM0.150 resistance level is inevitable.