Comments We decided to take profit on our 12k PUNCAK shares @ RM1.86/share in view of the expected higher market volatility followed the recent comment of US Federal Reserve, which indicated that the central bank may scale back its bond purchases later this year if the economy is strong enough. The disposal of our PUNCAK shares has led us to realise RM5,680 gain or a handsome 34.1% total return within a six-month investment horizon. Although we remain optimistic on the company’s outlook, we believe PUNCAK’s share price may likely to experience some hiccup, in tandem with the current broad market weaker sentiment. We will re-invest the stock should the group’s share price showing some weaknesses in the near term. We continue to believe that the stock will benefit from the ongoing water assets rationalization plan in the Selangor state.
Source: Kenanga
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