Salcon may further experience a technical rebound after climbing above the downtrend line to cross the 50-day MAV line. Traders may buy as a bullish bias could be present above the MYR0.60 level, with a target price of MYR0.69, provided the MYR0.645 minor resistace can be surpassed. The stock may drift lower if cannot hold above the MYR0.60 mark. In this case, support is anticipated at MYR0.565, where traders can exit upon a breach.
Further to the announcement dated 27 August 2015, the Board of Directors of Salcon wishes to announce that there has been no material development on the Memorandum of Understanding entered into between Salcon Engineering Berhad (Company No. 18161-H), a wholly-owned subsidiary of Salcon and Tanjung Piai Maritime Industries Sdn Bhd (Company No. 943274-D) for exploratory efforts in the establishment of water supply and sewerage treatment infrastructure to the new development at Tanjung Piai Integrated Petroleum and Maritime Industrial Park, Mukim Serkat, Daerah Pontian, Johor Darul Takzim.
I think it's because the money is mainly deposited in Hong Kong from what I understand, where FD is close to 0, hence the money is parked in the money market instead. Sacrificing interest for easy access to the funds.
I can't understand why the company scaricifing its interest income. by the way, I am in Finance working for a HK listed Co; we park our money in both HK and China not only for the reason for easy access to funds but also earning high interest based on commerical-terms negotiation with the bankers.
really can't understand it earned only 500K only in a quarter, with base of 270 mil cash.
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....
Alfred Aun
1,139 posts
Posted by Alfred Aun > 2016-01-20 15:16 | Report Abuse
Just buy back at the price of 0.590..