EOD Update (15 Sept 2006)
Bit of a roller-coaster with RHB today. First, news that EPF's offer had been rejected by Utama caused RHB's share price to fall to as low as 1.21 from an initial high of 1.28 .... then it recovered back to 1.28 on news that a foreign bank was going to make a bid at around 2.30 per share, then it started weakening again when news came out that the said foreign bank had denied in a telephone interview that it was going to make such an offer for RHB. In the end, I decided to let go most of my shares in RHB for the time being until a clearer picture emerges.
MUHIBAH performed well today, continuing its recent rise by surging up another 16c to close at 1.90 (day high 1.91). LIONDIV was up as much as 10c to 4.88 before settling down to close at 4.80 (up only 2c).
CYMAO went ex today for a 5c dividend. By day end, it managed to close at 1.25, up 2c on its ex-dividend price of 1.23. Not bad ...
SCOMIEN closed up 11c at 1.49 on very small volume. Some would point to this low volume and say the rise doesn't mean anything but I beg to differ. This is simply because from what I've seen recently, there doesn't seem to be any sellers at all at lower prices. I've been expecting a move but perhaps recent "political issues" have caused some hesitation for investors/punters wanting to get into any counters within the "sensitive" SCOMI stable.
As I write this, GMO Ltd. shares have gone on to hit 127p on the AIM in only its 2nd week of trading. This translates to a 154% rise over its IPO price of 50p a share. GPACKET & MTOUCHE each hold 12 mil shares in GMO (assuming none sold since IPO). At RM6.90 to GBP1.00, each of their stakes would now be valued at more than RM105 mil. I'm not sure what their cost of investment in GMO Ltd. is, but I bet it's nowhere even near this figure (a Star article recently mentioned it was about 8x above cost of investment when it was last traded at 94p at that time).
In the last week or so since GMO's IPO, the share prices of GPACKET & MTOUCHE have been sliding slowly from above 4.00 and seem to be stabilising now (GPACKET up 4c today, MTOUCHE still down 2c). This is a divergence from GMO's performance which has continued to be on the up and up. Wonder how long more investors can ignore this divergence? The same argument can be applied to OSKVI (up 3c today), although it only had 6 mil shares in GMO at point of IPO.
Latest disposals:
RHB: -2,000 (1.26), -6,000 (1.25) ... Balance 3,000
/ichithekiller
posted by ichithekiller @ 7:46 PM
2 Comments:
If I knew how much further stocks could go, I would be a billionaire by now and that's the honest truth... I just don't know, sorry. Yes, it's a profitable company, bought over majority from Chinese partner in China, injected into GMO Ltd. for AIM listing... can't remember earnings exactly, can only check when I have time. But it's supposed to be early days yet, with much more space to grow.
The bubble goes on.
GMO was suppose to raise alot of cash to cover Green Packet and Mtocuhe bubble story but ended up nobody jump into the scam. UK AIM investors are not stupid duh. So ended up GMO corner by OSK and Green Packet like they did for Mtouche and Green Packet shares in MESDAQ Malaysia. They later add in Chinese story with figure from the sky to take out money from company and hope to get some investor to buy into their story. Who will be the joker who buy into the scam, by chance, there may be some innocent investor. The monkeys will show their faces very soon. Let's wait and see the show goes on.
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