Bursa Master
ABLEGRP - IS IT TIME TO ROCKET UP!!!!
BURSAMASTER
Publish date: Sat, 29 Jun 2019, 01:27 PM
ABLEGRP - WILL THIS COMPANY ABLE TO ROCKET SOON
(MY PERSONAL TP 0.12 Short Term, 0.20 Mid to
Long Term)
Recently I had spotted this small cap company; which I believe has a bright future ahead -ABLEGROUP BERHAD or ABLEGRP (Stock Code 7086, listed on MAIN BOARD, INDUSTRIAL PRODUCTS/SERVICES, BUILDING MATERIALS, market cap RM 22.43M as at writing)
In summary, AbleGroup Berhad is an investment holding company, with two (2) wholly owned subsidiaries, namely Syarikat Bukit Granite Sdn Bhd which is involved with the processing of high quality granite and marble for supply and installation to the domestic market, and Atlas Rythm Sdn Bhd which is in the property development business.
I noticed considerable interest starts to build in on 28/6/2019 where the volume registered a sizeable increase to 2.4million units.
With this positive momentum & enthusiasm ahead, I believe, should spillover to next week. I foresee it trending to the next resistance of 0.10 before heading to my personal TP of 0.12 (short term) to 0.20 on the intermediate to long term.
WHY I THINK THIS STOCK COULD HAVE GREAT POTENTIAL TO RISE FURTHER?
1. Major Shareholder With Tight Grip & PNS as a Shareholder to be Noted
Refer below latest shareholding report as of 29th March 2019 taken from latest Annual Report. The major shareholder is Dato' Lim Kim Huat (via Parallel Pinnacle Sdn Bhd) who holds 140.816 million units (53.359%) of the company. We also noted PERBADANAN NASIONAL BERHAD (PNS) as the 2nd largest shareholder with 4.01 million (1.5%) stake.
With such a tight holding in the company by the MD, the balance float which is tradeable is 46.641% only. This implies a less resistance on the uptrend path should the price decide to trend upwards in near time.
It is worth to note Dato' Lim Kim Huat profile as below taken from the Annual Report. A few important points to note:
i. He is a Certified Public Accountant by profession with experience in diverse business fields
ii. He also sits on board of Widetech (M) Bhd and Golden Agro Plantation (Mukah) Bhd
iii. He was formerly Deputy Executive Chairman of Sunrise Bhd (now known as UEM-Sunrise after merging with UEM Construction Bhd). He had led few known development in KL area such as "10 Mont Kiara", "28 Mont Kiara" and "Solaris Dutamas - Publika".
2. NTA of 17 cents (Potential Takeover Target for Backdoor Listing) and Bright Prospect Ahead as Beneficiary of MEGA PROJECTS in Malaysia
Let's see ABLEGRP latest results. The company had reported increase in revenue, and reduced losses compared to similar quarter last year.
Also to be noted its NTA of 17 cents and therefore at the current price of 8.5 cents, the company is trading at less than half of its full NTA value.
This makes the company a highly possible takeover target for companies looking for backdoor listing in BSKL due to it trading at significantly low price compared to the NTA value.
Refer below management analysis taken from latest Annual Report.
Key Prospects for Marble and Granite Segment :
i. RM 3.53 million orders secured and to be delivered in FY 2019
ii. To pursue new jobs that meet their stringent quality criteria
iii. With MEGA PROJECTS resumption (ECRL and Bandar Malaysia), the outlook of marble and granite suppliers look to be in higher demand from all the construction of buildings and houses
Key Prospects for Property Development Segment :
i. 1.214 hectares of freehold land ready for development (part of it in Mont Kiara area)
ii. Expecting to win bids for new projects in 2019 given their track record in delivering quality stone works to prestigious projects
iii. Buyer sentiments to improve due to stamp duty exemption on purchase
3. Technical Analysis - ICHIMOKU CLOUD Breakout on Daily
Refer below WEEKLY chart of ABLEGROUP. We see that since 2017 it has been on a downtrend and had tested resistances about 4 times and did not succeed to break out.
From recent closing of this week, we can see that the candle had formed a breakout of the trend and thus highly likely to continue uptrending in future.
We can also see stochastics at the oversold point and turning upwards, with volume building up.
Refer below DAILY chart of ABLEGRP. We could see the surge in volume today, and that the price had closed above the ICHIMOKU Cloud, signalling a bullish momentum ahead.
Upon breakout of 10 cents resistance, I see the target at recent high of 12 cents which was achieved in August 2018 (last year).
CONCLUSION
Considering all the above, my personal TP for ABLEGROUP is set at RM 0.12 (Immediate & Short Term ), and RM 0.20 (Mid to Long Term).
LET’S SEE HOW THE SHARE PRICE MOVEMENT IN THE NEAR FUTURE FORBEARING ANY GOOD CORPORATE NEWS.
Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am only sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.
BURSAMASTER
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Discussions
2 people like this. Showing 25 of 25 comments
They will sell all at 0.085 and 0.09. Good profit for this small timer syndicate. Sometimes it works. Depend on wind on next week.
2019-06-29 18:19
all cook up stories to induce buyer. lol. someone better report this to SC.
no need. you report to bursa. bursa do their investigation then report to SC.
2019-06-29 18:26
when ever bursa master promote the stock. the next day.. will the price will go down. heavy selling from their subcriber. haha..
2019-06-29 19:20
@Goh Kim Hock - market consists of investors and traders..if everyone is an investor there will be no volume in market..
traders are the majority making up our market volume..and traders will move based on latest trends / buzz / momentum..
i believe the article is meant as an information sharing and not for speculation purpose..
2019-06-29 20:28
@PureBULL - so sad that such a post coming from you..
i know Bursamaster personally in real life and he has a lot of influence / followers..
his article is number #1 due to genuine readers and not fake clickers..
don't simply accuse people without proof..you are making a fool of yourself in front of other community here
if you think generating fake traffic can make your article number #1..then go ahead and try..newbie
2019-06-29 20:31
@bnmacai - another sore loser..accusing of cooking up stories..
all the above information are all based on facts from company ANNUAL REPORT..volume and charts numbers are also accurate..
if the community here reads this post, then they know who they should report, which is you..blindly accusing people without proof..
2019-06-29 20:35
i realized that a lot of comments are just attacking the writer instead of giving constructive comment / feedback on the article content..
sad to see that this is the standard of mentality/thinking of some Malaysia traders (those mentioned above..not all in general..personally i know a lot of good people too)
market bull is coming..new highs..it is better to make friends than make enemies..be smart, don't hate..
2019-06-29 20:43
a stock market is make up of all kinds of folks and all types/ styles of making money.
Speculations on stocks will always be there.
One man's preferred style is another's abhorrence.
Everyone is free to promote whatever he/she wants and let I3 evaluate whether it is chun chun or pump n dump, or of no value.
Frankly, i think this writeup is fair speculation n not like some of the persistent hardsell that I3 is so often exposed to, on a v regular basis by some 'famous' blogger, that sadly turn out to be way out.
2019-06-29 21:00
It is always Caveat emptor /let the buyer beware, there is always high risks of losing money in stock market.
it is often blind greed of easy quick gains ,that cause one to rush in where angels fear to tread..
2019-06-29 21:10
even got a disclaimer ! a responsible guy, so buy at own risk,(i'm not buying, holds no shares here)
2019-06-29 21:36
Thanks bursamaster for a good article and fark those naysayers who keep condemning the article if you are damn bleary good try to show your credibility dont just condemn.
2019-06-29 22:15
i m a trader, mostly intraday. ..most of the time i trade on speculative penny stocks as i don't hv much capital to trade hogh price counters.
i have followed many blogs especially by KYY, CalvinTan, OTB and sometimes Bursa Master.
Sometimes i make from the information sharing which are a good avenue for me to garner needed information for my trading.
i never bame anybody for times when i lose as decision to buy/ sell was totally mine.
Most of these people are giving/ sharing their views. ..so you are solely to nlame for your losses.
We should appreciate their efforts in creating awareness.
Many factors influence the market directions...beyond the control of any particular individuals.
KYY for instance has loss big especially JAKS...though he being a seasoned investor.
i loss on DAYANG recently but i never put the blame on KYY.
Decion was mine...my loss is solely my own decision.
2019-06-29 22:19
I'm agreed with Bursa Master. Some haters just hate the author for no issue. Author didnt ask u to buy, its your decision to buy. Just like G3,this stock previously is low in volume and price. What happen after the stocks when it got buying interest? it shoot up! For haters, U can just stay aside and no one asking u to follow. Remember,buy /sell button is u press, not others.
2019-06-29 22:46
its just a bubble up , it doesn't show a proper movement to go with the market upside.
2019-07-01 19:47
What the heck! not a safe bet at all. Forget ablegrp. Better switch into this stock here (https://klse.i3investor.com/blogs/investsmartway/213065.jsp)!
2019-07-01 20:42
After few months past the price keep dropping don't trust this BULLS HIT CON MAN
2019-10-25 17:13
"Publish date: Sat, 29 Jun 2019, 1:27 PM"
Seems like the rocket failed to take off..even after almost a year.
The irony is author calls himself BURSAMASTER.
2020-04-28 22:56
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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....
stteck
Don’t twist, perbadanan nasional berhad is PNS but not PNB. Lol
2019-06-29 13:48