EOD Update (14 August 2006)

CYMAO looks like it bottomed last week at 0.94 ... spiked up suddenly today to 1.16 before settling to close at 1.10 ... not bad. I think it's being accumulated and there should be more upside. PWORTH, another timber-related counter with its own concessions gapped up today but closed flat at 0.575 ... to me this counter is undervalued but it seems to have trouble breaching the 0.60 mark convincingly. No discernible movement on TIMWELL yet despite the ongoing timber theme. I will be patient.

MUHIBAH closed up 8sen to 1.50 today, possibly in anticipation of its subsidiary's IPO tomorrow. On the property side, my one remaining property counter, MAHSING has been quietly moving quite strongly the last 2 trading days, rising from 2.27 to 2.47. Think can expect a good set of quarterlies to come out. Citigroup also reiterated its Buy call on MAHSING with a target price of RM3.00.

I won't talk about RSAWIT since everyone seems to be watching plantation stocks now.

Latest disposals:

RSAWIT: -2,000 (1.72) ... Balance 3,000 (today closed 1.78, up another 14sen)

IJMPLNT: -2,000 (1.72) ... Balance 0 (didn't get to buy enough before move, so disposing for now to avoid hassle of monitoring an extra counter)

I just noticed I sold the above 2 counters at the same price today. Is that a coincidence or what?


/ichithekiller