Reveal your bank account here i shall pay it XD So what stock is hot to play now..Im in daya only since 0.41..feel like cherry pick on some stocks..any sifu here recommend me? but no big cap to me =( small potato + newbie..
So pilot is mike la? means he is the sifu.. Handsome Mike, any recommendation? Sorry if my late reply..because im working and recently overloaded with projects.
PETALING JAYA: Shares of Scomi Energy Services Bhd continued to climb following news that Tan Sri Quek Leng Chan, the major shareholder of the Hong Leong group, had taken up a substantial stake in the company.
The company’s shares closed up 9.5 sen to RM1.09 yesterday, with 54.18 million shares being traded.
Shares of other Scomi-related stocks also saw an uptrend. Holding company Scomi Group Bhd added 5.5 sen to 45 sen, with 95.25 million shares being traded, while Scomi Engineering Bhd rose six sen to 49.5 sen, with 3.48 million shares being done.
Hong Leong Investment Bank (HLIB) Research said in a report yesterday that it was upbeat about Quek’s entry as a shareholder, noting that it saw possible synergy in the future with TH Heavy Engineering Bhd, in which Quek has a 9% stake.
“We view Quek’s entry into Scomi Energy is at the right and exciting time, given its potential risk service contract (RSC) win,” it said.
According to market talk, the company is close to securing the RSC from Petroliam Nasional Bhd to develop a marginal oilfield off the coast of Terengganu.
HLIB said it was maintaining its “buy” call on the stock, with a target price of RM1.02. “We maintain our ‘buy’ call, as the potential win of the RSC contract will boost our target price to RM1.18 (which provides a 19% upside from the current share price).”
Stock market data showed that 268.79 million shares, or an 11.48% stake, were traded off-market last Friday at 76.5 sen a share.
The block’s seller is believed to be its second-largest shareholder, Standard Chartered Private Equity (PE) Ltd, which held a 11.5% stake in Scomi Energy. This would make Quek the second-biggest shareholder in Scomi Energy, after Scomi Group Bhd which holds 65.7%.
“We are positive on the entry of a new strategic investor, given that it will remove the share overhang concern, as we understand that Standard Chartered PE had been looking to dispose of its stake for months now,” said HLIB.
One industry observer noted that Quek was a savvy oil and gas (O&G) investor, whose expertise would be an advantage to Scomi Energy.
“Quek has acquired stakes in various O&G outfits. His know-how about the industry will benefit Scomi Energy,” he said.
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....
Posted by hepitrade > 2014-01-02 18:04 | Report Abuse
What say you, bro & sis ?