Time to Review JAKSIt has been quite sometime since JAKS came into the spotlight on Bursa. Since 23 April when it hit its highest price level of 90 sen on a historical volume of 47.3 million shares, it has not been really able to recapture the interests of medium-term buyers or speculators.
Beginning at 47 sen ,when 2007 opened, it fell to the lowest of 41 sen because of the US sub-mortgage fears. Subsequently because of the ''water play'', along with KPS, JAKS moved up notch by notch. June volumes were highest on 14 June (30 million),18 June (20 million) and 6 June (10 million).
Now let us look at the volume for the last 5 days when the market was in minus territory after some correction. On Monday (25 June), volume was 4.4 million; went down further to 3.7 million on Tuesday but strangely, it reversed trend on Wednesday to put on a volume of 4.5 million. Thursday saw its volume declining to 3.2 million shares and on Friday, it fell by almost 50% to 1.7 million shares. Except for Wednesday, the progression downwards is understandable with the overall falling market.
JAKS closed on 29 June at 74.5 sen, dropping 9.5 sen from Monday's close of 81 sen.It slided gradually to go down to 77 sen on Tuesday and held steady at 75 sen for a 2 sen less on Wednesday and Thursday. The highest intra-day was 83 sen and the lowest intra-day was 74 sen.
We are in July now. Watch out for the announcement of the tender of the Langat 2 project. I think it will be done of the heels of the submission of the Japanese project design by mid-July. Then expect rumours to come to the fore on the Langat 2 project which is under the purview of both the Water Resources Commission and the State Government of Selangor.
Remember JAKS has a sweet and sour relationship with the Selangor State Government because of the on-going court case. Just as in politics, for political or economic expediency, wonders can be done. Expect KPS to shoot up to be followed by the likes of Puncak Niaga, KHSB, Taliworks, Salcon and JAKS.
Heartsong
Beginning at 47 sen ,when 2007 opened, it fell to the lowest of 41 sen because of the US sub-mortgage fears. Subsequently because of the ''water play'', along with KPS, JAKS moved up notch by notch. June volumes were highest on 14 June (30 million),18 June (20 million) and 6 June (10 million).
Now let us look at the volume for the last 5 days when the market was in minus territory after some correction. On Monday (25 June), volume was 4.4 million; went down further to 3.7 million on Tuesday but strangely, it reversed trend on Wednesday to put on a volume of 4.5 million. Thursday saw its volume declining to 3.2 million shares and on Friday, it fell by almost 50% to 1.7 million shares. Except for Wednesday, the progression downwards is understandable with the overall falling market.
JAKS closed on 29 June at 74.5 sen, dropping 9.5 sen from Monday's close of 81 sen.It slided gradually to go down to 77 sen on Tuesday and held steady at 75 sen for a 2 sen less on Wednesday and Thursday. The highest intra-day was 83 sen and the lowest intra-day was 74 sen.
We are in July now. Watch out for the announcement of the tender of the Langat 2 project. I think it will be done of the heels of the submission of the Japanese project design by mid-July. Then expect rumours to come to the fore on the Langat 2 project which is under the purview of both the Water Resources Commission and the State Government of Selangor.
Remember JAKS has a sweet and sour relationship with the Selangor State Government because of the on-going court case. Just as in politics, for political or economic expediency, wonders can be done. Expect KPS to shoot up to be followed by the likes of Puncak Niaga, KHSB, Taliworks, Salcon and JAKS.
Heartsong
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