FY11P/E: N/A, P/BV: 1.0x

? Magna is still gyrating in a downtrend channel but we expect the trend to reverse soon. In the medium term, prices should at least test its 50-day SMA at RM0.93. A successful breakout from this level should lift prices towards RM0.96 and possibly even RM1.05 next (52-week high).

? Indicators are showing signs of improvement. MACD is poised for a positive crossover while its RSI has also hooked upward. It appears that selling

pressure has slowly tapered off.

? As long as prices hold steady above the support trend line (now at RM0.84), we believe the recovery remains intact. A slip below this level would trigger out stop.



Magna Prima, through its subsidiaries, provides services in civil engineering,

infrastructures, building works, rock crushing, earthworks, and drainage works.

The company subcontracts quarrying operations and renders professional

turnkey services.