Focus Malaysia: Will Zahid-linked MQTech, Jiankun spike on DPM-ship rumour? AWAKEN from its deep slumber, Advance Synergy Bhd, a counter traditionally linked to Datuk Seri Anwar Ibrahim, emerged as the darling stock in the local bourse during the run-up to his official appointment as Malaysia’s 10th Prime Minister (PM).
Following the dissolution of Parliament on Oct 10, the penny stock has skyrocketed almost 400% from a low of 6.5 sen on Nov 4 to a high of 32 sen on Thursday (Nov 24) which coincided with the National Palace consenting the appointment of the Pakatan Harapan (PH) chairman as PM.
A typical example of ‘buy on rumours, sell on facts’, the Main Market-listed company which is listed under the consumer products & services sector, nevertheless nosedived 5.5 sen or 21.15% to close at 20.5 sen on Friday (Nov 25) as the most actively traded stock with 721.11 million shares exchanged hands.
Obviously, the question on every stock punter’s mind now is which politically linked counter will be next? As the vacancy for the PM’s post has been filled, could eyes now turn to the counter/s-linked to the individual who will assume the Deputy Prime Minister (DPM) post?
“The main coalitions to Anwar’s unity government are PH and Barisan National (BN),” a market observer who does not wish to be named shared with FocusM. “Since the PM is from PH, it is not too far-fetched to expect a DPM from the BN camp to be one of the potentially two DPM candidates (the other is likely from Sabah/Sarawak).”
The market observer who is also a seasoned stock punter himself zeroed in on BN’s chairman and UMNO president Datuk Seri Ahmad Zahid Hamidi amid “strong rumours that he would most likely be the lucky one”.
“MQ Technology Bhd and Jiankun International Bhd are both linked to Zahid,” he rationalised. “Zahid’s daughter Datuk Nurulhidayah Zahid is on the board of MQTech (serving as vice chairman) while his son-in-law, Datuk Saiful Nizam Mohd Yusoff is on the Jiankun’s board (serving as deputy chairman).”
Added the market observer: “It will be interesting to see if these two counters are able to repeat as similar feat as ASB in the coming days given the full list of Anwar’s Cabinet line-up has yet to be revealed.”
Last Friday (Nov 25), MQTech closed down 0.5 sen or 11.11% to 4 sen with 17.41 million shares traded while Jiankun shed 0.5 sen or 2.27% to close at 21.5 sen with 1.25 million shares exchanged hands.
“If history does repeat itself, the target price of MQTech should be around 20 sen while Jiankun could soar to as high as 50 sen,” speculated the market observer.
“Even if the performance of both counters are half that of ASB, prospect of a surge in their prices should be appealing enough to draw significant attention to put them into the 10 most actively traded stock list.” – Nov 29, 2022
When TSIST come in is not this price bro..TSIST to invest up to 30% equity in MQTech via participation in a forthcoming corporate exercise of MQTech. which is the current proposed SIS raise by MQTECH? Hmmmmm
KUALA LUMPUR: Advance Synergy Bhd, a counter linked to Datuk Seri Anwar Ibrahim, was a darling of the local stock market in the recent weeks before his appointment as Malaysia's 10th prime minister.
After Parliament was dissolved, Advance Synergy skyrocketed almost 400 per cent from a low of 6.5 sen on Nov 4 to a high of 32 sen on Nov 24, which coincided with Anwar's appointment as PM.
Advance Synergy's share movement was a typical example of "Buy on rumours and sell on facts", market watchers said.
The next question on everyone's mind is "Which politically-linked counter will be next?"
The answer would depend on who would be the next Deputy Prime Minister (DPM), they said.
The main parties of the unity government are Pakatan Harapan (PH) and Barisan National (BN).
Since the PM was from PH, it was not too far-fetched to expect the next DPM to be from the BN camp, market watchers said.
The current leader of BN is Datuk Seri Dr Ahmad Zahid Hamidi and there are strong rumours that he would most likely be chosen as DPM.
MQ Technology Bhd and Jiankun International Bhd are both linked to Zahid.
Zahid's daughter Datuk Nurulhidayah Ahmad Zahid is on the board of MQTech, while his son-in-law Datuk Saiful Nizam Mohd Yusoff is on the Jiankun board.
It will be interesting to see if the two counters are able to repeat the performance of Advance Synergy in the coming days.
Last Friday, MQTech closed at RM0.040 with 17.4 million shares traded, while Jiankun settled at 21.5 sen.
If history does repeat itself, the target price of MQTech should be around 20 sen while Jiankun's should be touching RM1.00.
Even if the two counters' performance is half of that of Advance Synergy, the price increase should be lucrative enough to draw significant attention, bringing both these counters to the list of top 10 volumes.
KUALA LUMPUR: Politically-linked stocks are hot today with the prices of two counters related to former deputy prime minister Datuk Seri Ahmad Zahid Hamidi rising in active trade.
The trading volume of MQ Technology Bhd (MQTech) and SM Technology Bhd (SMTrack) ranked second and third most active respectively on Bursa Malaysia.
MQTech closed at RM0.050, with a total of 132.1 million shares traded, while SMTrack settled at RM0.060, with 127.3 million shares changing hands.
Zahid's daughter Datuk Nurulhidayah Ahmad Zahid is the director and vice chairman of MQTech, while his son-in-law Datuk Saiful Nizam Mohd Yusoff is on the SMTrack board.
According to stock chart analysts, the biggest share price resistance for MQTech and SMTrack were RM0.055 and RM0.065 respectively.
"MQTech and SMTrack have the potential to repeat the performance of Advance Synergy Bhd, which is linked to Prime Minister Datuk Seri Anwar Ibrahim," said one of them.
"Once they break through the resistance lines, they would enter an upward trend. If Zahid is appointed as Deputy Prime Minister (DPM), their share prices would follow the uptrend pattern of Advance Synergy.
"When this happens, the target price of MQTech and SMTrack should be around RM0.210 for both companies," the analyst added.
Advance Synergy has become a darling of the local stock market based on its performance the past few weeks, .
For the past two weeks, Advance Synergy was the most traded shares in the market each day.
Since the dissolution of Parliament, the counter has been rising from a low of RM0.065 on Nov 4 to a high of RM0.32 on Nov 24, a surge of 400 per cent.
Today, its share price retreated to RM0.195 with 249.7 million shares traded.
Advance Synergy's price trend is completely in line with the trading model of "buy on rumors and sell on facts."
The question that market participants are most concerned about today is "Which politically connected stock will be rising?"
Market observers said the answer to the question was related to "Who will be the next DPM?"
The unity government led by Anwar is dominated by Pakatan Harapan and Barisan Nasional. Hence, Zahid could be a candidate for the DPM post.
chart wise (daily) forms a strong base (accumulation stage) for the past 5/6 months and broke recent high 4.5 (and above the 200 SMA) since last Monday...resistance 5.5-6...hence if this resistance level is breached...target is 8 to 9 ...we should know the outcome soon
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
miuchann00
7 posts
Posted by miuchann00 > 2022-11-25 16:06 | Report Abuse
right time to buy now??