O&G analysts reckon that KNM will be a key beneficiary of the refinery and petrochemical integrated development (Rapid) project.
They expect Petroliam Nasional Bhd (Petronas) to make the final investment decision on the US$20bil (RM66bil) project by April.
UOB KayHian Malaysia Research analyst Danny Chan tells StarBizWeek that KNM has an addressable market of RM10bil to RM13.3bil in Petronas’ Rapid project.
Technical indicators and candlesticks are all still pointing up. If the local market is not too jittery about Friday's drop in the US markets, then the counter should still rally.
Note that it is clearly stated in the PVR circular that the share premium arising from the PVR is not meant to be utilised for the off-setting of accrued losses.
A good strategy is to hold the counter -if you already have a position - till the EGM on 18 April as the counter is still in rally mode (technical indicators all point up).
Should the EGM successfully carry the PVR resolution and if there is a strong hint of a bonus issue, the counter should rally further.
The Pengerang Integrated Complex (27 billion capex) also means a lot of opporunities for KNM.
guys rumour is that Pengerang project annoucing this week. All done deal d, just waiting for the right time to boost the stock price. 90cents still ok! TP 1.50
Just hearsay.. A couple of analysts friend of mine is forecasting KNM to hit circa 2.50-3.00 by End July 2014. Do not know how they conclude this, until heir official report is analysts report is issued to their clients.
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....
WallStreetBaller
93 posts
Posted by WallStreetBaller > 2014-04-11 17:03 | Report Abuse
yes disappointed too. but still got room to grow. dont worry make money