Knm Group Bhd forms bullish "Gravestone" chart pattern Aug 06, 2018
Recognia has detected a "Gravestone (Bullish)" chart pattern formed on Knm Group Bhd (7164:MYX). This bullish signal indicates that the stock price may rise from the close of 0.190.
Tells Me: The bears have sustained control over the downtrend, but the period has shown a surge of bullish demand that suggests we are nearing a bottom. During a downtrend, the bar opens at its low (or very close to its low), then rallies, but isn't able to sustain the move and closes back down near the open. The bulls have lost the battle but have shown some strength during this period. It's possible we are nearing a bottom.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
During KNM AGN on 27/6/18, it was mentioned that for Peterborough project, the drawing and design has been approved and expected to commence construction in August 2018 subject to advance payment guarantee from vendor. Just wondering what is the latest status on this project .
Sardin 81, yes their debt as at end of last year is close to Rm1.2b, 6% interest on this works out to be 72m and not 7.2m. Anyway, for last year their finance cost was reported at RM47.8m, The high finance cost is one of the main reason why they are reporting a loss. For Yr 2016 they reported a loss of RM333m, for 2017 loss of Rm45m and 1st Quarter 2018 loss of Rm18.4m. If this trend continues then the present positive retained earnings will eventually get wiped off and company may go into financial trouble. I can see this company has a lot of potential for a turn around. To get the investors confidence, the company need to report a decent profit and show the profitability as a trend moving forward. On the Peterborough project, KNM need to provide update on the latest. After the AGM, I have written to KNM asking them to share the slides as shared during the AGM, but they are reluctant sighting confidentiality. This is where I see them lacking in providing the necessary info to shareholders. It is high time the Management buckle up and deliver the positive result.
there are many companies that hoard huge amounts of cash with a passive management. It is useless for minorities..better buy unit trusts.. KNM has over the years transformed itself from a contractor into owner of utilities and industries which generates continuous income. Bank monies are meant to be borrowed and used for good projects.. nothing wrong even with over 1 billion in debt when its is put into a proven management team with experience and foresight. Its management is definitely strong given that not many engineering firms actually own and operate huge utilities overseas... Best part, at 0.20, risk is really minimal...
Syndicates can buy millions of these Penny shares and sell off at 1 -2 sen profit. They enjoy very very low Bokerage since it is a big NUMBER gain. Small punters are just feeding them with their hard earned monies. Syndicates target a penny stock. Buy in miilions shares at low price. Speculate and promote the counter with all the goodies....Sell off and leave the shohai s licking their wounds.
Agree KNM has good future potential but positive turnaround need to happen by this year and KNM also need to update investor on latest development/progress on the Peterborough project.
Hi guys, every now and than I take a look at KNM. Currently don't own any shares. Used to, fortunately made a small profit.
My concerns are as follows: 1) In calculating NTA, I like to take out the intangible and goodwill of almost 1.4 billion. 2) Still running with a negitive cash used in operations, last QR. Business can't cover operating expenditure. 3) Company loosing millions but directors still earning millions. No reduction in salary. 4) Major shareholder % holding drop. Lack of confidence?
Why I come here once in a while? I like: 1) Bio-ethanol in Thailand. 2) Waste to energy plant. Just have to see the numbers turning around before consider going back 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....
vivabursa
594 posts
Posted by vivabursa > 2018-07-26 05:20 | Report Abuse
RM 0.60 is good enough