be caution, the share price may go down a little to scare the short term folks to go away before it move up again.... so called a consolidation or pit-stop..... Happy Investing!
taciturn, good morning to you. I was told over the weekend that the fund managers are once again approaching the company for investor briefings. Slowly, but surely, Benalec is reappearing on the big investors' radar for the right reasons. The recent increased trading volume in the company's shares serves as further evidence of the renewed interest in this company.
I was holding it when it was down to the ground and that idiot, kuku was kept attacking it. Now, this thread was getting hot, many new faces join in. Now, is time to see the sunshine cause the dark had gone, but still too early to harvest, be patient, big $ is on the way.
Good day, everyone. I have once more been informed by reliable sources that over the next 2 or 3 weeks there will very probably be announcements made by the company in relation to some big deals. Watch this space! If you are a believer, you might want to move in now at the current low price and enjoy the ride.
Hi everyone, nowadays I am getting quite a fair bit of news from some reliable sources. The latest news that has come to my ears is that the company is now flushed with cash as a result of the recent land sale transactions and has set aside some RM50 million for buying back its own shares. The management apparently is more than convinced that the current share price represents a gross undervaluation of the company's shares. By aggressively buying back its own shares, the company will be well-positioned to very likely make a payment of dividend in specie, i.e. in shares rather than in cash. One side-effect will probably be that weak holders of the company's shares will get "mopped up", resulting in a much fairer valuation.
SavvyOne, Thanks for the info. I,myself still holding on to the stock since last year high, and bought the share again when the price around 0.89~0.95. Hope it will go to 2.00+ in near future.
RM2 is way to go but that definitely take some time to happen. It need at least couple of news announcement and good quarter result with good profit. Keep the energy on.
Whatever the case, it need to break the RM1 first before anything else.
Notice the share buy back is getting slim. Mean there are support instead of keep heavily share buying back. If TG PIAI is on needed much more money to roll wonder how the shre buy back will benefit later to company project mobilization!
king7, one of the things that the company can do with the shares it has bought back is to re-sell them on the open market or place them out for cash. So, where is the problem?
CIMB has involved APH funding for MUHIBAH ENGINEERING and TG PIAI project just next to it or side by side. I'm sure CIMB must clinch some sort of benefit to relinquish APH. Somemore CIMB recommended BUY in MUHIBAH ENG?!!
JT5774, you are indeed mistaken. Section 67A subsection (3B)(b) states that a company may resell the treasury shares, i.e. shares that it has bought back on the market of the Stock Exchange on which the shares are quoted, in accordance with the relevant rules of the Stock Exchange.
BENALEC Holdings has been range-bound the past four months, attempting to build a base for recovery. A clear penetration of the 200-day simple moving average RM1.05 should see the fate of this counter turning around for the better, enroute to the RM1.15-RM1.16 band. On the opposite, a crack of the all-time lows of 84.5 sen will signal the resumption of a downtrend.
Savvyone: Thank you for your updates. The cynic in me however requires that I take everything that isn't announced directly by the company with a grain of salt.
I.e. your source earlier did make a mistake with regards to the detailed E.I.A. approvals hence my caution.
This is not to say I don't appreciate your keeping us in the loop.
I may not believe all of it i.e. a share buyback limit of RM50m is huge and much as I hope it is true, I'd rather be cynical and assume the amount is a lot lower than that.
I'm always hoping for the best but tempering it with reality. Needless to stay, I'm still bullish about the company's prospects over the long term
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Posted by thek > 2014-05-12 07:11 | Report Abuse
Good morning TJ5774, hope today is a good trading day to all of us!