My, My ! Sky High!Historical day for the Bursa as the index added 9.5 points to touch a new high of 1,386.27 in tandem with world market performance. Winners included CIMA which put on RM1.05;Equine which climbed 60 sen; BAT which notched up 50 sen and Ranhill which reversed its two day loses to add 46 sen. Chief among loser were Transmile which sunk to RM4.94 for an 81 sen loss. The other notable losers were IOICorp and IOIProp which lost 20 sen each.
BJ Toto went up 35 sen to RM5.40 on a volume of 6.8 million shares. Is Vincent taking it private? Or is it going to give a super final dividend or special dividend to reward loyal shareholders? Either way, this counter will finally see new heights.
KPS seems to have lost steam after being the ''water darling'' for the last week or so. It went down 3 sen to RM1.62. Good development to flush out weak holders. KPS should maintain this price level before moving up to the next level which I suppose would be the RM1.75-RM 1.80 level. KPS gets more enticing as the months go by because of the imminent Langat 2 tender.
It looks likes JAKS will be come the next ''water darling'' after KPS. It is the front-runner for sub-contracting work in the Langat 2 as well as new water projects in Kedah and Malacca. Moreover it is the sole producer of large diameter pipes in Malaysia. With RM16 billion worth of water projects in the 9th MP, JAKS will score big in pipe replacement projects throughout the nation! It went up 2.5 sen to 81 sen on a volume of 8.06 million shares today.
Resorts World is finally moving up with vigour and volume. It chalked up 14 sen to RM3.58 on a volume of 10.5 million shares. I believe most of the notes have been converted. As Resorts World has also been used as covered warrants; some of its shares will be taken off the market by issuing institutions for the purpose of share exchange. Smart move on the part of CIMB as the strike price for their covered warrants is RM3.20.
RCE is set to scale new heights as well, finishing 5.5 sen at 1.05 today. Volume traded was 15 million shares. I believe more shares are amassed by fund managers as RCE is a clear winner for consumer finance. With the new pay revision effective in July, civil servants will have more loan repayment capability as they go shopping. If Goldman Sachs, General Electric, Public Mutual and HSBC Hong-Kong can invest in RCE, so can you.
DRB-Hicom was 7 sen better at RM1.89 while Genting was 5 sen better at RM8.00. Its share volume was 6.8 million. Meanwhile, Metronic was flat at 38.5 sen.
So there you have it, folks-one helluva record breaking day. I think punters are generally happy. Assuming there are no glitches in the near horizon, the index may retreat a wee bit before going up further. It all depends how far the Chinese markets will go!
Heartsong
BJ Toto went up 35 sen to RM5.40 on a volume of 6.8 million shares. Is Vincent taking it private? Or is it going to give a super final dividend or special dividend to reward loyal shareholders? Either way, this counter will finally see new heights.
KPS seems to have lost steam after being the ''water darling'' for the last week or so. It went down 3 sen to RM1.62. Good development to flush out weak holders. KPS should maintain this price level before moving up to the next level which I suppose would be the RM1.75-RM 1.80 level. KPS gets more enticing as the months go by because of the imminent Langat 2 tender.
It looks likes JAKS will be come the next ''water darling'' after KPS. It is the front-runner for sub-contracting work in the Langat 2 as well as new water projects in Kedah and Malacca. Moreover it is the sole producer of large diameter pipes in Malaysia. With RM16 billion worth of water projects in the 9th MP, JAKS will score big in pipe replacement projects throughout the nation! It went up 2.5 sen to 81 sen on a volume of 8.06 million shares today.
Resorts World is finally moving up with vigour and volume. It chalked up 14 sen to RM3.58 on a volume of 10.5 million shares. I believe most of the notes have been converted. As Resorts World has also been used as covered warrants; some of its shares will be taken off the market by issuing institutions for the purpose of share exchange. Smart move on the part of CIMB as the strike price for their covered warrants is RM3.20.
RCE is set to scale new heights as well, finishing 5.5 sen at 1.05 today. Volume traded was 15 million shares. I believe more shares are amassed by fund managers as RCE is a clear winner for consumer finance. With the new pay revision effective in July, civil servants will have more loan repayment capability as they go shopping. If Goldman Sachs, General Electric, Public Mutual and HSBC Hong-Kong can invest in RCE, so can you.
DRB-Hicom was 7 sen better at RM1.89 while Genting was 5 sen better at RM8.00. Its share volume was 6.8 million. Meanwhile, Metronic was flat at 38.5 sen.
So there you have it, folks-one helluva record breaking day. I think punters are generally happy. Assuming there are no glitches in the near horizon, the index may retreat a wee bit before going up further. It all depends how far the Chinese markets will go!
Heartsong
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