I believe it is time for company to submit Bonus issue 1 for 1 to Bursa Malaysia soon, Approval should be very fast and hopefully can complete by mid October.
So for usual case, bonus issue rally will start after submission.. Buy now, the Target Price is RM8.50 to 9.00 before ex-date Bonus.
360Capitalist, I have called up Maybank Investment Bank (the undertaker) and the lady in charge said that all the paper work is ready. It is up to the company to give green light for the submission of application to Bursa Malaysia. It will not be later than 11.09.2014 and Bursa Malaysia will take 10 market days to approve it.
Today's closing price of 6.15 is not too bad. Hoping for a better tomorrow especially if the interview with the CEO, Dato Koon Poh Keong, is published in a few newspapers.
8wpwtmt8..Thanks for Good follow -up with Maybank on Bonus submission, Hopefully within these 2 days. Chartwise it has show good support at RM6,11 and we hope PMetal has good showing tomorrow and expect another strong uptrend wave started soon if break RM6.28 and RM 6,55 with short term target price at RM7.55..
Good news, good news. Aluminium price hits another all time high. Last time it was US$0.9186/lb (or US$2025/tonne). Currrently it is US$0.9259/lb (or US$2041/tonne)
There is not much resistance from 6.24 to 6.28. According to Mr360Capitalist, the resistance of 6.28 must be broken convincingly in order to have a stronger uptrend.
Usually bonus issues got four catalysts, i.e. (1) When Bursa approves the bonus issues application (2) One day after EGM (3) Five trading days before the ex date (4) The first day after ex. Three long months to wait for the whole process to be completed.
Just look at the charts of GKENT and OKA (uptrend).
PMetal > Strong surge ahead with multiple good news flows: 1) Bonus Issue 2) Aluminium Shortage : Rusal cut capacity by 10,8%.. Deficit is estimated at 1.5 Mil MTonnes 3) New Round of Prices Rally boost by United States Durable Goods Index,,, Automotive and Commercial Aircraft. 4) First Time Aluminium Supply Deficit in 25 years. Aluminium prices should be reaching the Peak at USD3400 by 2015/2016, The current price of USD2100 is in big discount. 5) Aluminium Premium hikes by Smelters to Japanese Buyers from Q3' 2014 USD400 ~ 408 to USD 420 ~ 460 in Q4' 2014..
The Sky is limit,, Aluminium price is still at early stage of bull run.. USD2100, The all time high prices USD 3400.. The industry shortage caused by Smelters down-sizing and closed down unprofitable division will ensure the price moving higher towards USD3400. The new demand from Mammooth Industry - Automotive Sector, Commercial Aircraft and Electronic Gadgets will ensure strong demand to sustain the aluminium prices.
Just Imagine how much is the profit PMetal is going to make if LME Spot Rate at USD 3000 plus Hefty Aluminium Premiums (Minimum USD500 from 2015 onwards : The answer is more than RM1Billion to RM2Billion per year,,
This will make Koon Family The Next Top 20 Richest Man In Malaysia
Don't worry about Target Price.. EPS per share for 2015 is minimum 80 cts to 90 cts based on 540 mil shares. It is still very cheap with forward PE below 9.
The bonus issue 1 : 1 should provide catalyst for further upside and upsurge in aluminium prices should be sustainable with new automotive demands and deficit in worldwide supply.
The bonus issues application has not even been forwarded to Bursa Malaysia yet. Based on AEON who used Maybank IB as their underwriter, their application was forwarded to Bursa after 1 month time. So, the expected date for PMETAL's application to reach Bursa's hands will be 12.09.2014 and Bursa will take 10 market days to approve it.
Hi all, I am new bird here. Does it mean price will continue surging? Infact i got some news the target price will rose til rm15, but i dare not to get it as the market is in redssss.
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....
Joel
4,580 posts
Posted by Joel > 2014-08-26 13:53 | Report Abuse
fr BFM radio interview: one of the point ...
1. Only One in Malaysia who produce raw material@PRESS METAL !