Techfast Holdings climbed and tested the RM0.455 resistance level. With its 21-day moving average indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.48 and RM0.51. The downside support is projected at RM0.40. Traders are advised to exit on a breach to avoid further losses.
Shareholders also gave Techfast the green light to acquire a 35 per cent stake in CCK Petroleum Sdn Bhd for RM26.25 million.
This comprises a combination of RM16.17 million cash and RM10.08 million via the issuance of 23.44 million new Techfast shares at an issue price of 43 sen per share.
CCK Petroleum, established in 2013, is involved in the trading of bunker oil and provision of oil bunkering services related to the trading of marine fuels to ships, as well as other ocean-faring vessels.
Tan reportedly said the new business diversification would allow Techfast to ride on the evolving maritime transport industry via its shareholding in CCK Petroleum.
Tan said the petroleum trading and bunkering business was expected to contribute more than 25 per cent to Techfast's annual net profits.
how can u compare this cck petroleum with ping petroleum? ping petroleum is upstream oil production company whereas this local cck only a doing oil bunker service.
If you’re not one of tecfast shareholders, didn’t go to EGM, then don’t simply say goreng lah, careful lah. Whatever it is, Tecfast is trying to keep their shareholders happy after EGM and shareholders in favour for all the propositions.
I hope the announcement release soon, but please no sell on news, because i think this good company, growth well, like brother @JohnFarmer458 said below (hopefully achievable)
We need to ensure this company Just follow healthy chart, every spike must rest/pulback/retrace. Please dont goreng pump and dump.
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@JohnFarmer458 said below (hopefully achievable)
80c short term RM1.20 mid term RM2 long term
110mil market cap only, low nosh, next Dataprep in the making
securing 1.2bil oil and gas project. Definitely worth more than 2bil market cap. if market cap reach 1.5b RM2.50 easily achievable
Last time when they announce the zillion oil, share price jump to above 70 sen...This time the deal is even bigger...Even just 70 sen , this is like 50% kind of return...So current share price is still so cheap
OTHERS TECHFAST HOLDINGS BERHAD ("TECHFAST" OR "THE COMPANY") - SUPPLY AGREEMENT BETWEEN FAST ENERGY SDN BHD AND WISE MARINE PTE LTD WITH AN ESTIMATED CONTRACT VALUE OF RM2,222,856,000.00 TECHFAST HOLDINGS BERHAD
Type Announcement Subject OTHERS Description TECHFAST HOLDINGS BERHAD ("TECHFAST" OR "THE COMPANY") - SUPPLY AGREEMENT BETWEEN FAST ENERGY SDN BHD AND WISE MARINE PTE LTD WITH AN ESTIMATED CONTRACT VALUE OF RM2,222,856,000.00 The Board of Directors (“Board”) of Techfast wishes to announce that its wholly owned subsidiary company, Fast Energy Sdn Bhd (“Techfast Subsidiary”) had on 12 March 2021 entered into a Supply Agreement with Wise Marine Pte Ltd (“Wise Marine”) (collectively referred to as the “Parties”) where the Techfast Subsidiary will supply low sulphur fuel oil (LSFO), low sulphur marine gasoil (LSMGO), and high sulphur fuel oil (HSFO) to Wise Marine (“Products”).
Further details of the Agreement are set out in the attachment below.
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....
Freshbreakout
70 posts
Posted by Freshbreakout > 2021-03-12 15:34 | Report Abuse
Daydreamer bitter because missboat. Ask people to be careful, suddenly gap up...kui kui kui