xingxian and other stockinvestors, how you arrive at the Conservative TP RM 1.98? do the extra line opening warrant a new re-rating since the price at such high already? anyone can comment?
DJ Malaysia: Picks Tenaga as Preferred Bidder to Build Perak Power Plant KUALA LUMPUR--Malaysia's state-run power company Tenaga Nasional Bhd. (5347.KU) said Tuesday it was picked as the "preferred bidder" for a project to develop a coal-fired power plant in the northern state of Perak.
Tenaga has been invited to negotiate with Malaysia's Energy Commission on terms of the project that is expected to produce 1000 megawatts of electricity once commercial operations start in October 2017, the company said in a statement to the Malaysian stock exchange.
Not only that, the company is also in discussion with Vale to serve as its regional transshipment hub besides possibility of building a new jetty to export dry bulk cargo.
Integrax (INTEG MK) Technical BUY with +21.4% potential return Last price : RM2.20 Target Price : RM2.41, RM2.67 Support : RM2.11 Stop-loss: RM2.08 BUY with a target price of RM2.67 with stop loss placed below RM2.08. A strong gain on 9 Apr 14 was not followed by a positive followthrough as the share price remains subdued by the continuous selling pressure as shown by a trading within the “cloud”. However, we opine that the normalisation phase is over given the surge in momentum as INTEG rebounded off the rising trendline. An encouraging signal from MACD is likely to push the share price higher in the near term. A breakout above the “cloud” is likely to confirm the creation of a new up-leg as we peg our medium-term target at the 1.38x Fibonacci extension level of
KUALA LUMPUR (Jan 22): Port operator Integrax Bhd ( Financial Dashboard) rose 2.2% to its intraday high after The Edge Financial Daily (Edge FD) reported today major shareholder Amin Halim Rasip would not give up his Integrax stake unless Tenaga Nasional Bhd ( Financial Dashboard) revises its take-over offer price higher.
Integrax (fundamental: 1.65; valuation: 0.6) rose six sen to reach RM2.80 at 12:30pm, higher than the RM2.75 a share offer by state-controlled utility Tenaga (fundamental: 1.3; valuation: 1).
For comparison, the FBM KLCI rose 9.88 points or 0.6% to settle at 1,779.97.
Shares of Integrax, which has a market capitalisation of RM842.3 million, had gained 23% this year, outperforming the KLCI's 1% advance.
Tenaga owns 22.12% in Integrax while Amin's combined direct and indirect stake in Integrax comes to 22.81%.
Edge FD reported that Amin would consider Tenaga's offer for Integrax at a minimum of RM5 a share. He said Integrax's share price could reach as high as RM10 in five years.
Last Friday (Jan 16), Amin issued a statement declining Tenaga offer. He also announced to Bursa Malaysia on the same day his intention to deal in Integrax shares during the closed period.
Amin believes minority shareholders should not cash out their Integrax shares under pressure just for a quick buck, but should instead hold on for the long term for a much higher value.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
KUALA LUMPUR: Integrax Bhd ( Financial Dashboard) co-founder and major shareholder Amin Halim Rasip acquired an additional 1.03 million shares or a 0.34% stake in the company through open market transactions yesterday.
He now holds a total of 69.65 million shares or 23.15% of Integrax (fundamental: 1.65; valuation: 0.6), the company’s filing showed. The prices he paid for each share ranged between RM2.74 and RM2.80, marginally higher than the RM2.75 offer price from Tenaga National Bhd (TNB) ( Financial Dashboard).
Integrax was traded between RM2.73 and RM2.84 yesterday before closing at RM2.77, gaining three. Some 1.68 million shares were traded, with Amin’s purchases accounting for 61.2% of their traded volume.
In The Edge Financial Daily report yesterday, Amin said Integrax’s shares should be worth RM5 apiece and RM10 in three years. He has rejected TNB’s RM2.75 offer price and has even urged minority shareholders to hold on to their shares, even though TNB’s offer was at a 22% premium to the stock’s traded price before it made the offer a week ago.
“All I can say is shareholders can expect higher returns in [the near] future,” he was quoted as saying.
The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.
This article first appeared in The Edge Financial Daily, on January 23, 2015.
Log in to post comments.
Most Viewed
Saudi Arabia’s new king seen sticking with oil production policy
Nikkei rises to near 3-week high after ECB's stimulus plan
S.Korean shares climb to 4-week high on ECB stimulus; won firmer
Australia shares hit 10-week high, ECB stimulus buoys demand
Chinese manufacturing picks up, lifted by stimulus measures
In future can be RM5 but not now. Think what will happen to the share price if deal didn't go through. Will you offer RM5 now for the future stock. Think carefully and that's the reason why price is coming down today.
Amin Halim Rasip, the single largest shareholder of Integrax Bhd, has proposed to the company’s board to increase the dividend payment to shareholders for this quarter
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
ccdev
311 posts
Posted by ccdev > 2013-07-15 16:31 | Report Abuse
xingxian and other stockinvestors, how you arrive at the Conservative TP RM 1.98? do the extra line opening warrant a new re-rating since the price at such high already? anyone can comment?