On 6th Apr 2010, SAAG was one of the actively traded stock in the market. It achieved volumn of 49.7million share exchange vs. 40 days VMA of 10.5million fetch almost 5-fold increase in single day. The sudden dramatic volumn increase is essential to trigger a thinker. We are dealing with market prediction here, what is going to happen next when you normally see the above phenomenan? Follow with explosive price movement upward due to high demand of buyers come in to play, think so?
Look carefully, the increase of volumn is not match by price increase. The bid buying & selling price is perfectly match. The buyer & seller willing to buy/ sell the share with the current market price, buyer not willing to pay higher to get the share and same to seller not willing to sell in lower price. It hold the ground firm at least at this moment.
SAAG have entered the downtrend from somewhere Mid June 2009 till now, almost hopeless to regain ground. Cheap stock with few participant and low volumn, sad to mention. Is the worst over?
Latest News: - SAAG sees turnaround this year (The Star 9th March 2010)
The day rates for India’s state-owned Oil And Natural Gas Corp Ltd contract work out to about US$32,000-US33,000 per day. The cashflow of SAAG group is expected to be alleviated once this revenue is generated.
“The company had perception issues. The poor results did not help, hence investors threw their shares,” said a dealer.
The company has about RM550mil worth of contracts in its order book, which will keep the company busy up to 2012. The company had in December 2007 announced its requirement to raise additional capital through rights and exchangeable bonds (EB) issues to meet its various capital requirements
For FY09, SAAG’s revenue fell to RM160.44mil from RM361.86mil previously. The company recorded a net loss of RM8.79mil from a net profit of RM30.5mil before.
The day rates for India’s state-owned Oil And Natural Gas Corp Ltd contract work out to about US$32,000-US33,000 per day. The cashflow of SAAG group is expected to be alleviated once this revenue is generated.
“The company had perception issues. The poor results did not help, hence investors threw their shares,” said a dealer.
The company has about RM550mil worth of contracts in its order book, which will keep the company busy up to 2012. The company had in December 2007 announced its requirement to raise additional capital through rights and exchangeable bonds (EB) issues to meet its various capital requirements
For FY09, SAAG’s revenue fell to RM160.44mil from RM361.86mil previously. The company recorded a net loss of RM8.79mil from a net profit of RM30.5mil before.
No comments:
Post a Comment