As of 9 December 2014, KNM has been on a strong downtrend as suggested by the downward sloping 20-Day and 50-Day Moving Averages. With the general downward movement, the price now lies well below the resistance of 0.52.
Saw the announcement on KNM to buy back it shares. It could be just the start of it again !
This company really lacks corporate governance. Let me explain. Share buyback CAN only be done when there is "excess cash" in the company's coffer and the company can choose to either 1) distribute the cash back to shareholders as dividend OR 2) do a share buyback where mopping shares from the market can enhance the Earnings Per Share (EPS) which will benefit every shareholders too indirectly.
What puzzles me in KNM is they certainly in dire need of cash by doing a Rights Issue currently and in the same time showing to the whole world that they have "excess cash" !!! Are they trying to take money from every shareholders and prove themselves to be a better fund manager ?? Are they in the best position to tell this is the bottom of their share price ??
Can the Securities Commission investigate a company like KNM for being a non-licensed fund manager but act like one ? Can the SC investigate them from going out of their ordinary business of manufacturing equipment into manipulating its own share price? Can SC bar a company from using their "limited cash" to do share buyback when it is obvious they are in a fund raising situation ?
IT IS SIMPLY UNACCEPTABLE ! NO CORPORATE GOVERNANCE AT ALL !!!!!!!!!!!!
certainly RM4,850 was insignificant. probably they felt the billboard on bursa was too empty so KNM decided to fill it in... and they will do this comical act everyday to fill up the billboard...
If my prediction is right, the 10,000 is just the tip of the iceberg. You will see more to come !
flatman, when opec trim forecast, means they are going to trim their production, this will stabilize the price. so bottom is near, stability is near and klci can take off again. maybe we can still enjoy cny rally;)
Kuwait offers new discount, Saudi questions the need to cut production, Iran says price may drop to 40USD if no unity within OPEC . DO these seem like these middle east countries concerned about current falling price? What concerns them more is future industry landscape . They are taking price war to US shale producers and probably won't stop until shale producers are shaked out.
the boss has to abosrb whatever selling pressure there is for the next two weeks or risk a collapse of the rights issue. Par value is 50 sen and rights share cannot be sold below 50 sen. the share must be above 50 sen for the rights issue to proceed
lol many people jus like to simple tembak lowest tp possible, coz they also don't hv money to buy anymore, so jus shouting like a monkey, we all now know oil & gas counter are facing free fall.. and many people are suffer now for paper lost, so please give rather supportive n informative comment so it help former here to think of their investment, even if it free fall till 25 sen so what ? it will eventually go up again in the future coz oil won't drop till USD2.5 also .. now is a golden opportunity to make money may after next 6-12months if slowly accumulate now
no..i jus bought 50k share today at 42sen.. tats why im checking here mr multibillionair. i also bought perisai from 50sen to 45cent today.. There are also monkey shouting 25sen or bankrupt for perisai.. so i jus write what im thinkin in my mind.. anyhow its my money to invest. either lost or profit i also wont behave like a crybaby in the forum.
from the trend and charts, it does look like going further down. But, 6 down waves is very rare to see, and this is absolutely great opportunity, I am now almost ready to go in.
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....
rapidbeginner
1,817 posts
Posted by rapidbeginner > 2014-12-09 11:43 | Report Abuse
KLCI wont break at 1700...... supporting on its way.... maybe the save will foreign investment from China?