MAG & MAG-WB : POTENTIAL UPTREND STOCK
MAG HOLDINGS BERHAD (MAG - Stock Code 0095, Consumer
Products & Services, ACE Market)
BASIC INFORMATION ABOUT MAG HOLDINGS BERHAD
MAG Holdings Berhad, a Malaysia based investment holding company, with wholly owned subsidiaries in Malaysia, Australia, the United States, Canada, Brunei, Philippines and Hong Kong. It provides wholesale and retail telecommunications services and long distance services to telecommunication companies, as well as to corporate and individual subscribers. The company also provides support services to telecommunication companies, as well as offers prepaid calling cards. In addition, it operates a telecommunications call center. The company is headquartered in Kuala Lumpur, Malaysia.
MAG had completed their purchase of XW Aquaculture Sdn Bhd on 12 December 2019 which starts their foray on diversification into Prawn Aquaculture.
Wakuba farm at Kampung Wakuba, Tawau Sabah – 102 shrimp ponds at 97.90 hectares site. Own and operate by XW Aquaculture Sdn Bhd, a wholly owned subsidiary of MAG Holdings Berhad. Kampung Wakuba is well known for its pristine waters ideal for producing outstanding quality shrimps. We culture mainly Vannamei shrimps in a non-pesticidal cured marine ponds as our fresh shrimp product.
Sectors: Consumer Products, Penny Stocks, Telco, Consumer Products & Services, Food & Beverages, Newly Classified Shariah-Compliant Securities
Market Capitalization : RM 147 million
Shares Float : 682 million
NTA : 0.75 (Currently trading at 71% discount to NTA
Website : https://magholdings.com.my/
Excerpt From RHB RESEARCH – 24 Nov 2020
MAG Holdings broke above the MYR0.215 resistance on improved volume profile, likely marking an end to its narrow sideway trading pattern. Additionally, the 21-day SMA line is also showing initial signs of curving upward. A positive bias may appear above MYR0.215 with resistance levels eyed at MYR0.25 and MYR0.28. This thesis would be negated if the MYR0.215 level fails to hold.
Source: RHB Securities Research - 24 Nov 2020
1. IMPROVING QUARTER RESULTS TRENDS AFTER diversification into Prawn Aquaculture
MAG has announced on Friday, 27 November 2020 An impressive increased of 188.6% in PAT YoY & 228.56% QoQ.
Considering all the above, I gather that current price for MAG & MAG-WB is attractive due to:
i) Improving QR prospects AFTER diversification into Prawn Aquaculture ; food stocks should recover strongly from the pandemic COVID19 going forward
ii) MAG share price is currently trading at discount of 71% to its NTA OF 0.75.
iii) MAG closed last Friday at 0.215 whilst MAG-WB closed at 0.055.
iii) Gann Support (EP/CL): 0.21/0.19 | Resistance (TP): 0.23/0.25 ( from i-SAHAM)
LET’S SEE HOW THE SHARE PRICE MOVEMENT IN THIS WEEK FORBEARING ANY GOOD CORPORATE NEWS.
Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am 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.
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