GADANG has formed a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.815-RM0.865 levels. Support will be anchored around the RM0.73 level.
Gadang Holdings Berhad ("Gadang” or “Company") is pleased to announce that its wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd, has on 20 August 2018 received and accepted a letter of award dated 20 August 2018 from TRX City Sdn Bhd to undertake the proposed construction and completion of Public Realm Works (Phase 1) at Tun Razak Exchange for TRX City Sdn Bhd” (“Project”).
The contract sum for the Project is RM86,086,000 (Ringgit Malaysia Eighty Six Million and Eighty Six Thousand Only). The Project shall commence on 1 September 2018 and shall be completed by the third quarter of 2019.
The Project is expected to contribute positively to the earnings and net assets of Gadang Group for the financial year ending 31 May 2019.
The risks associated with the Project are mainly operational risks such as material procurement, on time permit approval from local authorities and completion risk which the Group would take appropriate measures to mitigate the risks.
None of the directors or major shareholders of Gadang or persons connected with them has any interest, whether direct or indirect, in the Project.
this company is securing contract despite the slump in property market. at this price it cant depress much. its nearing its pit. be a wise investor. u will never lose investing at the pit price
see, return to 74-74.5 again. this gadang really like that. no patience can't touch this counter. it will swing at small range until the end of the world. hehe
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Posted by sentimentrader > 2018-08-09 01:19 | Report Abuse
GADANG has formed a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.815-RM0.865 levels. Support will be anchored around the RM0.73 level.