Announcement on 29/12/2006:
Bad news for Silverstone & Amsteel
Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 28 December 2006 rejected the Proposed Extension ("Rejection"). Pursuant to Paragraph 8.14C of the Listing Requirements of Bursa Securities, a suspension shall be imposed on the trading of the listed securities of the Company with effect from 9.00 am. Friday, 12 January 2007 and de-listing procedures shall be commenced against the Company.
Eventhough these 2 company will appeal against the suspension decision, the price of these companies is expected to fall as investors will rush to unload their stock to cut loss & recovered their cash.
IT'S INTERESTING TO SEE HOW IS THE REACTION ON 3/1/07 FOR OTHERS LION GROUP'S COUNTER I.E LIONCOR, LIONDIV, LIONFIB & LIONIND.
In fact, the fundamental for Lioncor, Liondiv & lionind remained unchanged and is not affected by the delisting of silverstone & Amsteel.
However, their price may drop due to market sentiment as Malaysia's retail investors is more on speculative one.
If the price drop actually happen on 3 Jan 07, this will offer an opportunity for us to accumulate more. I will enter to accumulate more if Liondiv drop below 5.80 or Lionind drop below 0.92.
No comments:
Post a Comment