It's on an uptrend. Price has broken all resistance and set new high at 3.66, six sen above its target. It can still go higher. Temporary price drop may be due to the overall weak market sentiment with the index falling by about five points up to this point. Managed to buy some at 3.50 to add to my holding.
I think it is too high but am very certain Muhibah will cross the RM2 mark soon. A very good write up on the Edge today - "Muhibbah makes big strides in Oil & Gas"
soon as foreign funds will gradually go through the list of stocks held and engage its institutionals to sell, first Dialog, SKpetro,UMW Banking stock and so forth. Favco will come soon, no stock will be spared,not even the counter held by Dato Azizan namely THHEAVY
Favelle Favco: Bags RM120.7m contract. Favelle Favco announced that it has secured RM120.7m worth of purchase orders or Letter of Intent (contract) from several customers via its wholly owned subsidiaries in Aug and Sep. It said the contracts are expected to contribute positively to the Group earnings. (The Edge)
Buy Muhibbah instead! Favco and Muhibbah the same! In October 2011, it announced that Muhibbah Engineering (M) Bhd had 55.5% interest in the Company. On December 1, 2011, Shanghai Favco Engineering Machinery Manufacturing Co Ltd. became 60% owned subsidiary of the Company
the transaction volume still low and not many people like this hidden gem, but i'm quite confident with its strong book order will made RHB to give another review and target price soon and coming result should be strong EPS might another 10 cent above.
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....
Drachen
249 posts
Posted by Drachen > 2013-07-05 10:55 | Report Abuse
up and running now...