Stock Watch : AMDBThe flurry of buying activities on AMDB for the last couple of days has piqued my curiosity.
I used to like the stock way back in the Seventies. It was a darling of a stock and as many had made moola on it, many ''died financially'' holding on to it during the market reversals when Iraq attacked Kuwait during the First Gulf War and then during the currency melt-down in 1997.
There are plus signs to look at this counter more closely. A more low-key counter in the Azman Hashim stable of companies, it is mainly involved in property development and engineering.
After swimming in red ink, at long last it made profits in 2006. For year ending March 2007, it made 26 million net on a revenue of RM285 million. According to Jose Barrock of THE STAR , this constitutes a sharp turnaround from the previous year where they took a loss of RM178 million. AMDB has further projected that the current year will see better perforamnce.
Property stocks should move up further because of anticipated further budget incentives for the property market. As it is a 50 sen counter, there is little downside picking it up at the 40 sen level.
Chart-wise, KM Lee, again of THE STAR is of the opinion that AMDB should go beyond 44 sen in the immediate future. If it can break through this price band, then the next level would be 60 sen. In the event of a pull-back, floor support will firstly be at 34 sen and then at 30 sen
Let me do a little more research on this counter .
Heartsong
I used to like the stock way back in the Seventies. It was a darling of a stock and as many had made moola on it, many ''died financially'' holding on to it during the market reversals when Iraq attacked Kuwait during the First Gulf War and then during the currency melt-down in 1997.
There are plus signs to look at this counter more closely. A more low-key counter in the Azman Hashim stable of companies, it is mainly involved in property development and engineering.
After swimming in red ink, at long last it made profits in 2006. For year ending March 2007, it made 26 million net on a revenue of RM285 million. According to Jose Barrock of THE STAR , this constitutes a sharp turnaround from the previous year where they took a loss of RM178 million. AMDB has further projected that the current year will see better perforamnce.
Property stocks should move up further because of anticipated further budget incentives for the property market. As it is a 50 sen counter, there is little downside picking it up at the 40 sen level.
Chart-wise, KM Lee, again of THE STAR is of the opinion that AMDB should go beyond 44 sen in the immediate future. If it can break through this price band, then the next level would be 60 sen. In the event of a pull-back, floor support will firstly be at 34 sen and then at 30 sen
Let me do a little more research on this counter .
Heartsong
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