Today's RHB research downgraded TAANN to Sell. In the report, it says it expects plywood price and log to fall. Besides, TAANN also faces competition from Solomon Islands which sells cheaper logs to its main importer, India. However, until May, Lumber and Africa/ Southeast Asia Plywood price is still increasing, plus TAANN is producing quality logs which aim for higher price. Today might be EPF selling + people dispose due to downgrade by RHB + panic selling. Tomorrow is AGM, hope got good news which support the price. Just my 2 cents.
I'm taking a 13 sen loss here and now. Don't want to have capital stuck. Will wait and see how it goes in the afternoon. This looks like EPF selling. Will have to let them unload first. Better to stay out of the way when this gorilla is in the room.
That's how it goes with trading. You can't expect all the trades to go your way. The key is to preserve capital when our selections don't work out. And have the courage to pull the trigger when the buy and sell signals appear. If not, we will always remain as spectators.
AllWin & Buddyinvest, I read the annual report again....did not find any "bleak" but it got a neutral prospects for 2016. or you know something? can share here?
If taann, faces strong competition, I am sure that other log company will also face the same problem. Jtiasa and Wtk both are in Similar industries. How those companies price not drop like taann. In addition. RHB mention Taann log price might face stiff competition, but in actual the log price is still increasing. Wouldn't this be contradict to the reason it mentioned?
If that being said ,the quarterly results already leek,how come taan quarterly result not much better than its same quarter before?? Based on the reading of the production result which out in bursa malaysia ,its 3months production r much much higher than previous same quarter.
hulk, read the 2016 prospect, lethargic demand for plywood plus el nino effect on fruit production beginning of this year. the qr not going to be look good.
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....
Jeremykid
236 posts
Posted by Jeremykid > 2016-05-18 12:52 | Report Abuse
Today's RHB research downgraded TAANN to Sell. In the report, it says it expects plywood price and log to fall. Besides, TAANN also faces competition from Solomon Islands which sells cheaper logs to its main importer, India. However, until May, Lumber and Africa/ Southeast Asia Plywood price is still increasing, plus TAANN is producing quality logs which aim for higher price. Today might be EPF selling + people dispose due to downgrade by RHB + panic selling. Tomorrow is AGM, hope got good news which support the price. Just my 2 cents.