Bursa is still positive, After reaching 1.21 earlier, Engtek should reach soft target 1.23 followed by TP1.38~1.41 soon with so many Water & DC infrastructure projects in the pipeline!
Recommendation:
Accumulate on current weakness before Institutional & Foreign Funds comes in, while we wait for the Breakout!

Morning Friends & Gentlemen! Today will be a good day for Kobay! Accumulate on any weakness! Market could try another Breakout soon!

Recommendation:
Kobay shares are tightly held by substantial shareholders. Since weak holders and retailers already flushed out and many substantial shareholder's holding cost is RM4 or above from last RM102 million PP? not many are willing to sell at current price.
https://www.nst.com.my/business/2021/11/742836/kobay-raise-rm15314mil-private-placement

Operators will go for the lower hanging fruit of RM3 before next TP4~4.50. The next run-up will be fast & furious! Accumulate on any weakness and we wait for the Breakout to the next wave of buy by Market & Foreign Funds such as Dimensional Fund etc.

Positive closing! Better grab remaining scripts on discount! Will fly again next week! :)

Something must be brewing when out of the blue, strangers appear out of nowhere asking you to leave? Anyway the decision to invest is entirely yours. :)

Who is Engtex?
https://www.engtex.com.my/

The Case For Engtex! Bursa now already 1633 points with more upside!

Engtex Group Proposed 3-for-4 Bonus Issue
OUTPERFORM ↔Price: RM1.19
By Nigel Ng nigel@kenanga.com.my

Target Price: RM1.41
ENGTEX has proposed a 3-for-4 bonus share issue. We are neutral with backlogs and a strong pipeline of new projects.
Maintain OUTPERFORM. Expected Capital Gain: +RM0.27 +23.7% on the exercise. It is poised to benefit from the revival of water Expected Divd. Yield: +RM0.008 +0.7%projects and improved steel product prices. We maintain our Expected Total Gain: +RM0.278 +24.4% forecasts and TP of RM1.41 with OUTPERFORM call.

Our TP will be KLCI Index 1,617.86 adjusted to RM0.81 post the exercise. Stock Information
ENGTEX has proposed a 3-for-4 bonus share of up to 414.3m new ENGT MK Equity shares, of which we are neutral.

Nonetheless, its near-term prospects are strong, underpinned by outstanding order book of RM166m (MS pipes: RM120m, DI pipes: Shares Outstanding 441.4 RM46m). Meanwhile, its tender book stands at RM403m (MS pipes: Market Cap (RM m) 503.2 RM328m, DI pipes: RM75m).Par value per share (RM) N.A.These numbers are likely to rise over the immediate term as water 52-week range (H) 1.23 52-week range (L) 0.58 operators kick start their long overdue water projects on the revival of Free Float 38%water projects on stronger finances of water operators following the recent Beta 1.1 water tariff hikes. These include: (i) non-revenue water (NRW) reduction 3-mthavg daily vol 1,621,985 initiatives or pipe replacement, and (ii) construction or upgrading of water treatment plants (including the consolidation of old and small plants to Major Shareholdersoptimize cost). We understand that water operators are currently NH Holdings Sdn Bhd 24.8% identifying old pipes to be replaced and working out the cost to be NKG Resources Sdn Bhd 5.8% submitted to the Ministry of Finance (MOF) for approval. According to Ng Chooi Guan 4.5% Malaysian Water Association, water operators have thus far submitted Summary Earnings Table proposals to the MOF for water projects worth ~RM4b.

Friends & Gentlemen, Rather than wait here at Myeg and incurs opportunity cost as KWAP/EPF's still taking profit from Retailers for pension revision, accumulate Muhibbah now with positive momentum as Breakout's imminent with infrastructure & Construction theme play! After the Dividend & Dividend Reinvestment Plan we can revisit Myeg later?

Morning Friends & Gentlemen!
With a Bullish Bursa & Dow Jones at Record High, Analysts Recommends a Strong Buy For Muhibbah! Accumulate on any Weakness & let's break the small block at RM1.01!

According to analysts, MUHIBAH price target is 1.27 MYR with a max estimate of 1.34 MYR and a min estimate of 1.20 MYR. Watch MUHIBBAH ENGINEERING (M) BHD stock price chart and keep track of the current situation with MUHIBAH news and stock market news.
https://www.tradingview.com/symbols/MYX-MUHIBAH/forecast/

Last chance to accumulate cheap before the next run-up!
https://www.nst.com.my/business/corporate/2024/07/1077687/bursa-malaysia-closes-midday-more-3-year-high-investors-run

Don't let foreign fund grabs all the cheap Engtex stock! Once Engtex revisits 1.21, the coast will be clear for Water Infrastructure & DC play Engtek to reach soft target 1.23 followed by TP1.38~1.41!

The Edge
KUALA LUMPUR (July 17): Hong Leong Investment Bank (HLIB) Research maintained its 'overweight' rating of the construction sector, and said domestic contract awards jumped 41% year-on-year to RM20.7 billion in the first half of the year (1H2024), driven by data centre (DC) awards.

In a sector update on Wednesday, the research house foresees potential for awards acceleration in 2H2024, driven by long delayed big-ticket infrastructure projects.

It said positive sector sentiment could also come from the finalisation of the Johor-Singapore Special Economic Zone and Budget 2025, as well as structural DC and Johor reinvigoration themes.
https://theedgemalaysia.com/node/719288

The Block @0.995 already broken! Once Muhibbah exits Penny Stock Status! More Institutional & Foreign Funds will be Buy! More upside coming!

The Edge

KUALA LUMPUR (July 17): Hong Leong Investment Bank (HLIB) Research maintained its 'overweight' rating of the construction sector, and said domestic contract awards jumped 41% year-on-year to RM20.7 billion in the first half of the year (1H2024), driven by data centre (DC) awards.

In a sector update on Wednesday, the research house foresees potential for awards acceleration in 2H2024, driven by long delayed big-ticket infrastructure projects.

It said positive sector sentiment could also come from the finalisation of the Johor-Singapore Special Economic Zone and Budget 2025, as well as structural DC and Johor reinvigoration themes.
https://theedgemalaysia.com/node/719288

Morning Friends & Gentlemen! Breakout coming soon once the small block at 0.995 is broken with a Bullish Bursa! Soft target 1.25 with TP 1.34! Accumulate on any weakness!
https://www.cnbc.com/2024/07/15/stock-market-today-live-updates.html

The Case For Muhibbah! Exiting Penny Stock Status Soon!

Accumulate on any Weakness! Once Muhibbah exits Penny Stock Status, Muhibbah will be re-rated with more Foreign & Institutional Fund Buyers, soft target 1.25 with TP 1.34!

1Q24 results met expectations Bloomberg: MUHI
● Muhibbah delivered a 1Q24 core net profit of RM5.9m (vs. RM0.5m in 1Q22) which was Market cap: US$153.3m within expectations at 12%/11% of our/Bloomberg consensus’s full-year net profits RM721.2m
We expect earnings momentum to pick up in the coming quarters as it progressively Average daily turnover: US$0.50m recognises its RM2bn orderbook (as at May 24).
● The key 1Q24 highlight was associate profit contribution of RM13.4m (+32% yoy) Current shares o/s 727.0m coming largely from its Cambodia airport concession. This is commendable as 1Q23 Free float: 73.3% had included the Siem Reap airport concession that was surrendered back to the Cambodian government in Oct 23. Its 1Q24 passenger arrivals for the Phnom Penh airport concession (PP) and Silhanoukville airport rose 23% yoy to 1.2m, with China passengers making up 22% of the total in 1Q24 (vs. 15% in 1Q23).
● Its construction division posted an RM8.7m pretax profit in 1Q24 (vs. RM5m in 1Q23). Pretax profit for its crane business in 1Q24 rose 30% yoy to RM19m. Of its RM2bn orderbook, RM1.3bn is from construction and RM0.7bn from cranes. Favelle Favco (FF) announced contract wins of RM39m in May 24, which is a combination of tower and offshore cranes. In late-May 24, FF also announced it has entered into an agreement with an Australian developer to build two 14,000 sqm logistic warehouses on its 46,840 sqm land in Sydney, which should boost recurring income once completed in FY26F.
Light at the end of the tunnel for PP scenario?
● We had highlighted in our 2 May report (link) that its PP will likely see a favourable outcome, even though a new international airport for Phnom Penh, known as Techo International Airport, located in Kandal, is currently under construction and scheduled to start operations in 1H25F, according to Cambodia’s State Secretariat of Civil Aviation (SSCA). We believe Techo International Airport will replace the current Phnom Penh International Airport that is operated by Muhibbah.
● Muhibbah said negotiations with the authorities are progressing well and it will likely receive compensation for the loss of its existing operations of PP (likely at BV) and be engaged to operate the new airport at Kandal. This is because the new airport is being built by a JV between SSCA and the Overseas Cambodia Investment Corporation Price (OCIC), both of whom do not have the expertise to run an airport. An article in the Khmer Absolute Times published in Mar 24 also stated that a favourable result for all parties is expected, based on the government’s win-win policy, but details are sparse presently. Reiterate Add and TP of RM1.34
● We like Muhibbah as a proxy for a recovery in tourist arrivals with its Cambodian airport concessions, while its marine expertise and Petronas fabrication licence should enable it to clinch more Petronas jobs, in our view. Key downside risks are patchy execution track record and higher raw material costs. Re-rating catalysts include better earnings delivery and stronger tourist arrivals in Cambodia.

"We anticipate that the construction, utilities, and technology sectors will continue to be preferred choices for foreign fund investors.

Accumulate Kobay on any weaknesses for Infrastructure & Utilities Water Play as Bursa is Bullish after crossing 1,630 points! Buy before Foreign Funds grabs all the cheap scripts!

Good morning Friends & Gentlemen! Bursa is Bullish with 1,623 points! Kobay has been riding waves of Hi-Lo to Hi-High since achieving Lu 2.58 in mid-May. After many rounds of washing by Operator, Kobay finally achieved strength to revisit 2.48 last week on the way to twin peaks @2.58!. Resistance is between 2.50~2.58. Once broken, Soft TP is RM3.00 with Fair Value of RM6.83!

Recommendation: Don't Miss! Accumulate or Buyback on current weakness and we wait for another Breakout!

Rising stocks: Kobay Technology with Positive Momentum
Nanyang Sat, Jul 06, 2024

Kobay Technology (KOBAY, 6971, Main Board Industrial) recorded its biggest single-day gain in eight weeks to reach 2.48 with a strong close at RM2.35 on July 5, up 17.0 sen or 7.80% on a daily basis. Its daily relative strength index (RSI) is at 60.57 with positive momentum. Its share price may continue to rise to resistance level between RM2.50-2.58 today with soft TP @RM3.00 with Fair Value of RM6.83!

Don't let foreign funds grabs all the cheap Engtex stock! The block at 1.20 already broken last week! The coast is clear for Engtek to reach soft target 1.23 followed by TP1.38~1.41!

KUALA LUMPUR: Foreign investors continued to buy domestic equities for the second consecutive week with net purchases totalling RM478.2 million, according to MIDF Amanah Investment Bank Bhd (MIDF).

The research firm said the majority of this influx amounted to RM389.2 million which occurred last Thursday when Bank Negara Malaysia (BNM) decided to maintain the overnight policy rate (OPR) at 3.00 per cent after concluding its two-day Monetary Policy Committee (MPC) meeting.

"The top three sectors that foreign investors net bought were construction (RM198.2 million), utilities (RM116.1 million) and industrial products and services (RM111.8 million)," it said in a statement today."

https://www.nst.com.my/business/corporate/2024/07/1076624/foreign-investors-net-mopped-rm4782m-worth-stocks-last-week

Morning Friends & Gentleman! You need water for cooling needs of Data Centers, Ranhill can provide the water while Engtex will provide all the water pipes for water distribution! Ranhill already 1.61, its time for Engtex to play catch-up! The block at 1.20 already broken! The coast is clear for Engtek should reach soft target 1.23 followed by TP1.38~1.41!
Recommendation:
Accumulate on any weakness and as Breakout is imminent with a Bullish Bursa @1,623 points! Buy before Foreign Funds comes in!

KUALA LUMPUR (July 11): Development of the Johor-Singapore Special Economic Zone's (JS-SEZ) infrastructure will be co-financed by the government and the private sector, Economy Minister Rafizi Ramli said.

The JS-SEZ was established by the governments of Malaysia and Singapore to strengthen business ties and enhance connectivity between the two countries.
Accumulate Engtex on any weakness as Engtex will be a beneficiary of water infrastructure for JS-SEZ!
https://theedgemalaysia.com/node/718608

https://www.thestar.com.my/business/business-news/2024/07/11/japan039s-nikkei-crosses-42000-points-as-wall-street-rally-spurs-sentiment

Good news! Buy before foreign funds grabs all the cheap stocks!

JP Morgan upgrades Malaysia's rating, credits policy reforms, pace of progress

Thursday, 11 Jul 2024

https://www.thestar.com.my/business/business-news/2024/07/11/jp-morgan-upgrades-malaysia039s-rating-credits-policy-reforms-pace-of-progress

Good morning Friends & Gentlemen! Kobay has been riding waves of Hi-Lo to Hi-High since achieving Lu 2.58 in mid-May. After many rounds of washing by Operator, Kobay finally achieved strength to revisit 2.48 last week on the way to twin peaks @2.58!. Resistance is between 2.50~2.58. Once broken, Soft TP is RM3.00 with Fair Value of RM6.83!

Recommendation: Don't Miss! Accumulate or Buyback on current weakness and we wait for another Breakout!

Rising stocks: Kobay Technology with Positive Momentum
Nanyang Sat, Jul 06, 2024

Kobay Technology (KOBAY, 6971, Main Board Industrial) recorded its biggest single-day gain in eight weeks to reach 2.48 with a strong close at RM2.35 on July 5, up 17.0 sen or 7.80% on a daily basis. Its daily relative strength index (RSI) is at 60.57 with positive momentum. Its share price may continue to rise to resistance level between RM2.50-2.58 today with soft TP @RM3.00 with Fair Value of RM6.83!

Rising stocks: Kobay Technology
05/07/24 market
Closing: RM2.35
Change: +RM0.17
Trading volume: 103,452
High: RM2.48
Resistance: 2.58
52-week high: RM2.58
Dividend yield: 0.86%
https://www.enanyang.my/node/612377

Why Engtex?
#Engtex is the only maker of large-diameter MS pipes of up to three metres in Malaysia, used in upstream water supply projects.
#It is one of only two producers of ductile iron (DI) pipes locally (the other being Penang-based YLI holdings Bhd). Highly corrosion- resistant, DI pipes are widely used in water distribution.
#Ranhill Utilities under YTL Power will need Engtek's large diameter MS pipes & ductile iron (DI) pipes for its upstream water supply projects & ductile iron (DI) pipes widely used in water distribution to give YTL Power access to exclusive Johor water operations allowing it to capitalise on prospects from the Johor-Singapore Special Economic Zone and potential demand from Johor’s data centre hubs.
#Year to date, Engtex has secured new contract wins of RM151 million from the Sungai Rasau Treatment plant's main contractors i.e. Gamuda Bhd (for Package 1) and Taliworks Corporation Bhd (for Package 2 and 3).
https://www.nst.com.my/business/2022/11/848187/revival-water-infrastructure-projects-boon-engtex

You need water & pipes to cool Data Centres. Engtek can supply all the water transport & distribution pipes to all these DCs! JP Morgan's analysis shows that Malaysia has ample planned water treatment plant additions to accommodate expected DC builds.

Water supply in Johor ample for next five years of data centre builds: JP Morgan
By Business Times
July 3, 2024

https://www.nst.com.my/business/economy/2024/07/1071916/water-supply-johor-ample-next-five-years-data-centre-builds-jp

Good morning Friends & Gentlemen! Kobay has been riding waves of Hi-Lo to Hi-High since achieving Lu 2.58 in mid-May. After many rounds of washing by Operator, Kobay finally achieved strength to revisit 2.48 last week on the way to twin peaks @2.58!. Resistance is between 2.50~2.58. Once broken, Soft TP is RM3.00 with Fair Value of RM6.83!

Recommendation: Don't Miss! Accumulate or Buyback on current weakness and we wait for another Breakout!

"The S&P 500 and Nasdaq closed at record highs on Monday as investors await key inflation data to provide further clues about whether this year's market rally is sustainable. Earnings from some major financial giants and consumer companies are also on the docket."

UPDATED MON, JUL 8 2024 4:40 PM EDT
S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports
Brian EvansPia Singh
https://www.cnbc.com/2024/07/07/stock-futures-open-lower-as-investors-await-inflation-data-this-week-live-updates-.html

Don't miss! Foreign Funds are coming!

https://www.thestar.com.my/business/business-news/2024/07/05/-asia-stocks-notch-records-pound-calm-after-labour-landslide

Even RHB recommends to buy Infrastructure & Utilities stock for DC, Engtex on weakness!

RHB IB keeps 'overweight' calls on property, construction, tech, healthcare, oil and gas, utilities sectors

By Ishra Kamiso / theedgemalaysia.com
05 Jul 2024

https://theedgemalaysia.com/node/718002

Recap.
#Kobay has been making profit for 3 consecutive Qtrs., with Profit of RM5.84M on a Turnover of RM87.79M for Qtr. 3.
#Cashrich, with RM49.27m in the bank with Interest coverage ratio 3.6x
#Debt to Equity Ratio of 29.8%
(Equity RM 396.50m
With Total assets of RM 596.62m)
#Earnings vs Savings Rate: KOBAY's forecast earnings growth (60.4% per year) is above the savings rate (3.6%).
#Earnings vs Market:
KOBAY's earnings (60.4% per year) are forecast to grow faster than the MY market (12.1% per year).
#High Growth Earnings:
KOBAY's earnings are expected to grow significantly over the next 3 years.
#The 2 new projects, namely EMS and solar frame should be operational and generating income from next quarter onwards.
#There is a relatively healthy outlooks for aerospace and O&G divisions.
#Solar segment. The group is ready for its venture into the manufacturing of aluminium frames for solar panels for renewable energy-related business. #Kobay has already completed the renovation and installation of the new 15 -acre plant dedicated for renewable energy-related business. The prior delay from authorities’ approvals has been rectified and the factory is now successfully connected to the electric power after the substation upgrade by TNB. The anodizing line has been set up and currently the factory is ready to run for production.
#EMS. Recall that Kobay invested RM20m in Innospec, a new SMT services subsidiary, to provide end-to-end complete solution for ADS. Kobay has already been qualified by customers in 2QFY23 and is currently awaiting orders to be released to kick start production. At this juncture, the group just secured 2 customers with revenue guidance of about RM1m monthly. Despite the minimal contribution Kobay’s main aim is to utilize the readily available SMT line and achieve breakeven.
#Advance data server. Demand has improved as bitcoin price has more than doubled from breakeven price of USD27k to 67k as of June 2024.
#Property and pharmaceutical. Property development is expected to deliver positive performance on the back of the completion of its maiden Langkawi project.
#Pharmaceutical shall continue to work on widening its product range, along with cost control efforts to improve profitability and market competitiveness. The division is looking to expand its business in nutrition/supplement that could garner higher margin.

Morning! Kobay is now more like a Supermarket with a Diversified Business. With a positive momentum it's going to the moon in July. Accumulate on current weakness! :)

Pre Market Reading:
Yes! Everyone likes a bargain as Kobay is value for money! Accumulate on any weakness as current price only RM2.22 while it's Fair Value is RM6.83, a 69.3% Discount! & let's wait for the rebound!

Kobay Future Prospects:
Based on Last Reported Earnings Mar 31, 2024
Earnings per share (EPS) 0.028
Gross Margin 21.89%
Net Profit Margin 2.98%
Debt/Equity Ratio 29.8%

REWARDS
#Trading at 69.3% below our estimate of its fair value
#Earnings are forecast to grow 60.42% per year

What is the Fair Price of KOBAY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Kobay is:
69.3% Undervalued
Current Price RM2.22
Fair Value RM6.83

Breakout soon!
Data Centers needs water for cooling. Engtex can supply all the water pipes to meet the cooling needs of these Data Centers in Malaysia especially Johor, Penang, Selangor & even Sarawak! Accumulate on any weakness, more upside coming!
https://www.nst.com.my/business/economy/2024/07/1071916/water-supply-johor-ample-next-five-years-data-centre-builds-jp?sfnsn=wa

Everybody likes a bargain! If Operator wants to give discounts, accumulate on any weakness! After so many rounds of washing by Operator only left the hardcore shareholders!
Let's wait for the next run-up!
Recommendation:
Kobay shares are tightly held by substantial shareholders. Since weak holders and retailers already flushed out and most substantial shareholder's holding cost is RM4 or above? not many are willing to sell at current price. Operators will go for the lower hanging fruit of RM3 before next TP4~4.50. The next run-up will be fast & furious! Accumulate on any weakness and we wait for the Breakout to the next wave of buy by market & Foreign Funds such as Dimensional Fund etc.

Morning Friends & Gentleman! After Ranhill, Infrastructure & Water stock Engtek's turn is coming! Accumulate on weakness & let's wait for the rebound to 1.23 onwards!

Morning Friends & Gentleman! Market mood is bright! So is Tech stock Kobay! Accumulate on weakness! Let's wait for the rebound to 2.58!
https://www.nst.com.my/business/insight/2024/07/1071999/market-mood-bright-liquidity-light

Refer link below on what most IBs issuing CWs think of Myeg. Better follow KWAP/EPF to take profit based on strength before the music ends?
https://klse.i3investor.com/web/stock/warrant/0138

Goodtimes coming, better accumulate before foreign funds grab all the cheap stocks!

Asian stocks climb on US rate-cut bets; currencies tepid

By Roshan Thomas / Reuters
03 Jul 2024

https://theedgemalaysia.com/node/717708

Bursa already up and crossed 1,600 points! Can we break small roadblock at 2.28 today to retest 2.45 followed by 2.58 soon?

Dow Jones & Nasdeq bullish today! It's also a bullish day for Kobay!
https://www.thestar.com.my/business/2024/07/03/wall-st-indices-end-higher-on-tesla-and-megacap-stocks

Good Afternoon! As we enter the Bullish month of July, Foreign Funds are Coming! Accumulate on any weakness as Kobay's a Comeback King! After so many rounds of washing by Operator only left the hardcore shareholders!
Let's wait for the next run-up!
Recommendation:
Kobay shares are tightly held by substantial shareholders. Since weak holders and retailers already flushed out and most substantial shareholder's holding cost is RM4 or above? not many are willing to sell at current price. Operators will go for the lower hanging fruit of RM3 before next TP4~4.50. The next run-up will be fast & furious! Accumulate on any weakness and we wait for the Breakout to the next wave of buy by market & Foreign Funds such as Dimensional Fund etc.
https://theedgemalaysia.com/node/713761

Morning! Kobay is now more like a Supermarket with a Diversified Business. With a positive momentum it's going to the moon in July. :)

Pre Market Reading:
Yes! Everyone likes a bargain as Kobay is value for money! Accumulate on any weakness as current price only RM2.19 while it's Fair Value is RM6.83, a 69.3% Discount! & let's wait for the rebound!

Kobay Future Prospects:
Based on Last Reported Earnings Mar 31, 2024
Earnings per share (EPS) 0.028
Gross Margin 21.89%
Net Profit Margin 2.98%
Debt/Equity Ratio 29.8%

REWARDS
#Trading at 69.3% below our estimate of its fair value
#Earnings are forecast to grow 60.42% per year

What is the Fair Price of KOBAY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Kobay is:
69.3% Undervalued
Current Price RM2.10
Fair Value RM6.83

Recap.
#Kobay has been making profit for 3 consecutive Qtrs., with Profit of RM5.84M on a Turnover of RM87.79M for Qtr. 3.
#Cashrich, with RM49.27m in the bank with Interest coverage ratio 3.6x
#Debt to Equity Ratio of 29.8%
(Equity RM 396.50m
With Total assets of RM 596.62m)
#Earnings vs Savings Rate: KOBAY's forecast earnings growth (60.4% per year) is above the savings rate (3.6%).
#Earnings vs Market:
KOBAY's earnings (60.4% per year) are forecast to grow faster than the MY market (12.1% per year).
#High Growth Earnings:
KOBAY's earnings are expected to grow significantly over the next 3 years.
#The 2 new projects, namely EMS and solar frame should be operational and generating income from next quarter onwards.
#There is a relatively healthy outlooks for aerospace and O&G divisions.
#Solar segment. The group is ready for its venture into the manufacturing of aluminium frames for solar panels for renewable energy-related business. #Kobay has already completed the renovation and installation of the new 15 -acre plant dedicated for renewable energy-related business. The prior delay from authorities’ approvals has been rectified and the factory is now successfully connected to the electric power after the substation upgrade by TNB. The anodizing line has been set up and currently the factory is ready to run for production.
#EMS. Recall that Kobay invested RM20m in Innospec, a new SMT services subsidiary, to provide end-to-end complete solution for ADS. Kobay has already been qualified by customers in 2QFY23 and is currently awaiting orders to be released to kick start production. At this juncture, the group just secured 2 customers with revenue guidance of about RM1m monthly. Despite the minimal contribution Kobay’s main aim is to utilize the readily available SMT line and achieve breakeven.
#Advance data server. Demand has improved as bitcoin price has more than doubled from breakeven price of USD27k to 67k as of June 2024.
#Property and pharmaceutical. Property development is expected to deliver positive performance on the back of the completion of its maiden Langkawi project.
#Pharmaceutical shall continue to work on widening its product range, along with cost control efforts to improve profitability and market competitiveness. The division is looking to expand its business in nutrition/supplement that could garner higher margin.

Updated Information Sharing.

Engtex's expansion into Sarawak to operate steel pipes manufacturing activity via acquisition of Variglobal (VGSB) in Kuching will allows Engtex to benefit from Sarawak's RM1.08 billion pipes replacement project?

As announced in Note 5, VGSB (Variglobal) is an investment holding company which owns the Land.  The Land shall be leased to a related company of Engtex who has the expertise and resources to operate steel pipes manufacturing activity in Sarawak.

COMPANY DESCRIPTION
#VARIGLOBAL SDN. BHD. was incorporated on 2006-10-18 in Malaysia with registration number of 0750948P / 200601031189.
#VARIGLOBAL SDN. BHD.'s business includes PROPERTY INVESTMENT & INVESTMENT HOLDING

Recommendation.
Accumulate on any weakness as rebound in progress?. I like Icon 888's TP, first TP. 1.20 achieved earlier, next TP should be within the range of 1.30~1.50?

Icon 888

1st target- rm1.20
2nd target- rm1.30
Final target- rm1.50
Heng ong Huat

https://www.klsescreener.com/v2/announcements/view/7198891
https://www.thestar.com.my/business/business-news/2024/04/08/state-allocates-rm108bil-for-water-pipe-upgrade#openShareModal
https://www.nst.com.my/business/corporate/2024/04/1036804/kkb-engineering-gain-sarawaks-rm11bil-water-supply-projects

Thanks for your advice.
Loved the Operator's Textbook Modus Operandi.
eg.
#Strike fear on Retailers with talk of more Share Consolidation?
#Attack the Messenger
#If fails, tried Shaming or Praise instead?
#If still fails, Try to attack the Credibility or Raise Doubts instead?

I still rest my case.
"With a firmer Bursa today, Iris is well positioned to move higher once the small block at 0.46 sen is broken, only 500k required. Soft target is 0.50 followed by 0.60 & beyond is still on." :)
Btw for those who profited from my call on Iris, have a look at Vstecs, Kobay or Engtex. Prime candidates for another Bullish Rebound?

More Good News On Engtex Energy, 80% Owned By Engtex Group

Northern Solar seeks listing on GEM

Sinchew Wed, Jun 26, 2024

KUALA LUMPUR (Aug 26): Northern Solar Holdings Bhd has submitted its preliminary prospectus to Bursa Malaysia seeking a listing on the ACE Market .

According to the preliminary prospectus, the company will offer 67.252 million new shares under the initial public offering ( IPO ), of which 19.78 million shares are for application by the Malaysian public, 7.912 million shares are for application by qualified directors, employees and meritorious persons, and 39.56 million new shares are privately placed to specific investors. At the same time, major shareholders also offer 35.604 million existing shares.

The listing offers investors a total of up to 26% of the company's shares.

Northern Solar Holdings' main business is to provide design, procurement, construction and commissioning of photovoltaic systems. The company owns and operates 10 solar photovoltaic systems and another 4 solar photovoltaic systems through its 20%-owned Engtex Energy Sdn Bhd.

Legend Industries (LAGENDA, 7179, Main Board Industrial Group) owns 15% of Northern Solar Energy, and its stake will be reduced to 12.5% ​​after listing. Engtex Group (ENGTEX, 5056, Main Board Industrial Products and Services Group) holds 80% of Engtex Energy.

COMPANY DESCRIPTION
ENGTEX ENERGY SDN. BHD. was incorporated on 2002-07-02 in Malaysia with registration number of 0584923X / 200201017260. ENGTEX ENERGY SDN. BHD.'s business includes SPECIALIST IN SOLAR PHOTOVOLTAICS INDUSTRY, DEVELOP SOLAR ENERGY SYSTEM AND OTHER RENEWABLE ENERGY AND ACQUIRE MOVABLE AND IMMOVABLE PROPERTIES

https://www.businesstoday.com.my/2023/11/14/engtex-increases-stake-in-eesb-to-80-for-more-control/
https://www.sinchew.com.my/news/20240626/finance/5716689

Buying pressure is building up again! Book your tickets for the next premier!
RECOMMENDATION:
Take advantage of current Technology & DC connected stock play. Collect Iris as much as possible on any weakness, as Iris is on the verge of another breakout! Don't let sharks collect cheap from stale bulls & weak holders. For retailers with paper loss, now is the best time to average down Iris with minimum risk. With a clean Balance Sheet, good Cash Position, Little Debts & NTA of 0.4651 per share, Iris is well positioned to move higher as already visited 0.46 Sen!. Soft target is 0.50 followed by 0.60 & beyond is still on.

Kobay will be a beneficiary of US Tariffs increase on China exports.

Chinese companies seeking help from Putrajaya to dodge US tariffs — report
By Syafiqah Salim / theedgemalaysia.com
25 Jun 2024
https://theedgemalaysia.com/node/716691

As long as EPF/KWAP keeps on selling, IBs will support with monthly issue of Call Warrants to keep Myeg price low Also the Share dividend & Share reinvestment plan will dilute shareholder's value. Don't forget about the additional Corporation Tax that Myeg may have to pay for Zetrix token profit? Better buy Iris as got positive momentum and comes back after price correction to a more comfortable value?

keepup

every day drop only. lol

Don't miss!, accumulate Iris on any weakness as got positive momentum.

Iris presently has a long green candlestick, indicating there is strong buying pressure; this typically indicates price is bullish!

Remember Pestech Aerotrain contract termination? Government is good at backtracking as Pestech is currently back on Aerotrain Project in JV with IJM. Iris substantial shareholder Dato' Robin's father is TSVT who enjoys good relationship & lobby with present Govt & Royalty. Iris could also comeback into Niise Project through a JV with the successful bidder as Immigration is still using Iris Border Security Management Equipment & Systems. Arbitration with Government on quantum of compensation for Iris on Niise termination is also ongoing? Otherwise why the long delay to announce the successful bidder and why the sudden strong buying at Iris as 2nd wave of uptrend underway!
https://www.freemalaysiatoday.com/category/nation/2024/01/19/no-govt-interference-says-loke-as-pestech-back-in-aerotrain-project/

Kobay is the Comeback King! After Operator wash away the weak holders, will Kobay moves higher today after bouncing back from 2.26?

According to RHB Retail Research, Kobay Technology is poised for a technical breakout after rebounding off the 21-day SMA line and closing at the immediate resistance of MYR2.26 last week.

RHB Retail Research in a note on May 31 said, if a breakout happens above that mark, the counter will trend higher towards the 52-week high of MYR2.58, followed by MYR3 level

Key Takeaways.
Kobay to benefit from:
#E&E Recovery
#Govt RE Funding
#US tariff increase from 25 to 50% for China Solar & Aluminium products into US etc
#Aerospace services & products recovery in demand etc.
Will Operator make a move for LU in the afternoon?

Wise move. Buy Iris, Kobay or Engtex got positive momentum. We will revisit Myeg later?

Good news! Buy 4 get 3 Bonus Shares!
Bursa Approves Engtex's Bonus Issue!
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : BONUS ISSUES | https://www.klsescreener.com/v2/announcements/view/7197035

Engtex is Bullish today!
Accumulate on weakness! And let's wait for the next Water & DC Play, once Ranhill Utilities announce more water pipes supply contracts with Engtex for Singapore-Johor Economic Zone & DC Hubs? Association with YTL Power & Ranhill is always a good thing? Also don't forget the RM4 billion allocation by Government for Perak to Penang Water Transfer Project. You need Pipes! Pipes for water distribution and Engtek can supply all as:
#Engtex is the only maker of large-diameter MS pipes of up to three metres in Malaysia, used in upstream water supply projects.
#It is one of only two producers of ductile iron (DI) pipes locally (the other being Penang-based YLI holdings Bhd). Highly corrosion- resistant, DI pipes are widely used in water distribution.

Good idea!
CarolineTeoh

I wait below Rm1 ...safer

As long as EPF & KWAP keeps on selling supported by IBs who keeps on issuing Call Warrants on a monthly basis, Myeg would not move much. Also we need to see how Myeg deals with it's tax obligations for Zetrix token profit? Income tax may review Myeg's Income declaration for penalties or raise additional tax which will affect its bottom line?
If free, take a look at Iris, Kobay for Tech & DC play or Engtek for Water & DC play as associated with Ranhill & YTL power play. We can always come back later to Myeg after the dividend & share reinvestment plan?

Good try but wrong analogy as different Business segments for Starbucks. That's all.

Iris Mgt should focus on Iris core biz of Border Control & Security and see as how a Strategic & Business Cooperation between Iris & potential chinese partners could create Synergy for mutual benefits under China Belt & Road Networks with current China- Malaysia Economic Cooperation Umbrella.

RECOMMENDATION:
Take advantage of current Technology & DC connected stock play. Collect Iris as much as possible on any weakness, as Iris is on the verge of another breakout! Don't let sharks collect cheap from stale bulls & weak holders. For retailers with paper loss, now is the best time to average down Iris with minimum risk. With a clean Balance Sheet, good Cash Position, Little Debts & NTA of 0.4651 per share, Iris is well positioned to move higher as already visited 0.44 Sen!. Soft target is 0.50 followed by 0.60 & beyond is still on

To succeed Iris Mgt, needs to be proactive & seize the opportunity offered under the China-Malaysia Economic Development Umbrella to enhance Iris Businesses? We are only highlighting the potential Strategic & Business Cooperation that Iris Mgt could undertake for the benefit of Iris Shareholders under the current China-Malaysia Economic Cooperation. Tks