MAG & MAG-WB : COULD SOMETHING BE
COOKING FOR THIS COUNTER ???? !!!!
MAG HOLDINGS BERHAD (MAG - Stock Code 0095,
Consumer Products & Services, ACE Market)
I WISH TO SHARE MY OBSERVATION ON MAG & MAG-
WB AS I NOTICED SUDDEN INCREASE IN VOLUME &
PRICE TOWARDS YESTERDAY, 15-JAN-2021 CLOSING.
THE SUUDEN INTEREST BY MARKET PLAYERS DURING A
VERY LETHARGIC, POOR MARKET SENTIMENTS CAUGHT
COULD SOMETHING BE COOKING FOR THIS
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/
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 0.205 whilst MAG-WB closed at 0.055.
iii) Gann Support (EP/CL): 0.19/0.17 | Resistance (TP): 0.21/0.23
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.