Companies stayed in pn17 for so long because it takes time to turn around the company and getting back to back profitable quarters its not an easy feat. It doesnt have any time limit or minimum duration to stay in pn17. There is no market regulator in the world want to have lots of financial troubled companies in their stock exhange - not good for reputation and attractiveness to investors. Eatech and other oil and gas companies are enjoying the bullish momentum in this sector for the next few years. Thats the reason why warren buffet been buying oil and gas relates stocks since last year! Tame your pick, eatech, m&g, t7, uzma, hibiscus, are all going for good ride.
I suspect another solid QR from eatech with the long term ccontract from Petronas and other major clients. Based on the last quarter performance, eatech will yield around rm30mil profit for FY2023. Translate that into PE 14 just like Perdana, fair price for eatech is around 80sen
If you look at the other companies, they are almost hopeless. Eatech will definitely submit the new reg plan and they are already on its own be able to be uplifted from pn17. Get ready for the next wave 3- weekly chart already had macd golden crossed, moving towards 40/60/80 and then up to ath with primary wave 3
This is jcorp’s counter, and definitely not a con company. Petronas has awarded long term contracts for petroleum product tankers to 2 of eatech’s tankers. Oil and gas and shipping sector are in bullish uptrend for the next few years. Positin yourself while it is still Below 20c, it will Probably test ath next year once pn17 uplift similarly to other oil and gas related counters
Few of pn17 gem in bursa now. AaX and eatech. Both have started getting profitable quarters for the last 3 quarters and for sure no issuee with reg plan. Both are in wave 5. Eatech my target 60-1.05 and aax rm2.50-3.00 before or after pn17 uplift.
You all should read the qr report. Dnt just look at the figures summary. They have decided to reflect all Impairments into this quarter and provide opportunity for them to start fresh for next quarter. Lots of major companies are practising this when they have significant depreciation of asset value, and etc.
Just buy when it dips, most major companies will take chance to do huge impairments at the right time. Its common especially company who has audited tangible assets like oil and gas companies. Buy when first sign of rebound after this dip, keep for next uptrend at least 1-2 quarters