Morning Friends & Gentlemen! I rest my case for Engtex! Have been busy counting profit so didn't post much lately. For those who benefited from my recommendation. Please have a look at my other recommendations like Kobay, Muhibah & even CTOS now selling at a discount!
Contrarian Must thank laulau for continuously promoting Engtex.
5056 ENGTEX, ENGTEX GROUP BHD - + Additional Listing Announcement /Subdivision of Shares 6 Aug 2024, 11:43 Additional Listing Announcement /Subdivision of Shares 1. Details of corporate proposal Whether the corporate proposal involves the issuance of new type and new class of securities? N Types of corporate proposal : Exercise of Warrants Details of corporate proposal : Conversion of warrants to ordinary shares No. of shares issued under this corporate proposal : 1,000,000 Issue price per share ($$) : 0.7000 Par Value ($$) (if applicable) : 0.000 Latest issued share capital after the above corporate proposal In the following Units : 445,089,301 Issued Share Capital ($$) : Malaysian Ringgit (MYR) 303,098,787.830 Listing Date : 07/08/2024 Remarks: You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
Engtex Group Berhad's shares have experienced a significant drop recently. As of today, the share price has fallen by 38% over the past month, which has raised concerns among investors. The drop in share price is largely attributed to a decline in the company’s earnings, which have been underperforming compared to the broader market. Despite this, some investors remain optimistic due to the company's forecasted growth over the next few years, which is expected to be higher than the market average. However, the company's current price-to-earnings (P/E) ratio remains high, which suggests that the market has high expectations for its future performance
Good Afternoon Friends & Gentlemen! We are Back! Did you managed to Grab cheap stocks during yesterday's panic selldown? The fundamentals on Engtex remains intact even after Bonus issue! Price remains cheap at 0.625 when the adjusted price should be 0.81 after Bonus Issue!
The Case For Engtex! Bursa is still strong at 1642 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 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: RM46m). Meanwhile, its tender book stands at RM403m (MS pipes: RM328m, DI pipes: RM75m). 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 water projects on stronger finances of water operators following the recent water tariff hikes. These include: (i) non-revenue water (NRW) reduction initiatives or pipe replacement, and (ii) construction or upgrading of water treatment plants (including the consolidation of old and small plants to optimize cost). We understand that water operators are currently identifying old pipes to be replaced and working out the cost to be submitted to the Ministry of Finance (MOF) for approval. According to Malaysian Water Association, water operators have thus far submitted proposals to the MOF for water projects worth ~ RM4b.
Morning Friends & Gentlemen! Price remains cheap at 0.63 when the adjusted price should be 0.81 after Bonus Issue! Since fundamentals remains intact Rebound is coming soon! Once reached 0.81, Engtek should break Penny Stock status to resume soft target 1.23 followed by TP1.38~1.41 with so many Water & DC infrastructure projects in the pipeline before next Budget Announcement? Recommendation: Accumulate on current weakness before Institutional & Foreign Funds comes in, while we wait for the next Breakout!
Malaysia shines as foreign investors return, peers stumble By Reuters August 22, 2024
The stock benchmark KLCI has risen more than 12 per cent this year on the back of an AI-driven data center boom, outperforming the 6.0 per cent rise in the MSCI Southeast Asia index .
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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....
TheContrarian
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Good luck to you.