Blog https://targetinvest88.blogspot.com
Opinion : Target invest analysis
Htpadu which had been trading at rm 2.50 suddenly got gap down and sell down accompanied by 2 news
1st news - unofficial rumor news by newsportal nanyang and sinchew on htpadu potential drop out from NIISE, leaving only Theta and Dnex
2nd news - official news from Htpadu bursa website on High court writ of summon on past issues concerning pertubuhan keselamat sosial reschedule hearing (release on friday evening after trading hour)
From what we can see is
1. Theta and Dnex is lacking of the momemtum needed to justify the NIISE contract. (Theta and Dnex gap up sell down)
2. HTPADU still have influential shareholder Wong Thean Soon, whose acquistion price for more than 20% of the block share being priced at rm 2.03
3. There is no panic selling in Cuscapi and MYEG share.
4. HTPADU did not officially announce that they had pulled out from NIISE tender, it is just newsportal rumors.
What can happened next?
1. If the news is true, current price is still below Wong thean soon rm2 stake, and it is already priced into the news that HTPADU is not going for the NIISE contract.
2. Htpadu can remain silent until the official reward of the the NIISE contract and share price might possibly go up again on the news.
Date to look out for will be 11th June 2024, which is the date of the case between Htpadu and Pertubuhan Keselamatan Sosial, where a favorable result will see HTPADU going up again.
In conclusion
Target Invest think that HTPADU is potentially still in the NIISE tender. With Wong TS stake in HTPADU, it means alot more as WONG TS,s MYEG had all the experience from more than 10yrs to make NIISE better.
The current price of RM 1.90 range is already factored in for the idea that HTPADU is not going for the NIISE contract, however, it remained as a rumor. If it turnout to be HTPADU is the winner, or part of the contract winner, then it will be a good catalyst for it to see it's share price going up again.
All the speculation will be known at the end of June 2024 when the result of the tender is announced. Till then, we will see a volatile trading for the next 3 weeks.
Blog https://targetinvest88.blogspot.com
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