Earnings per share for the year ended 30.4.2007 is 6.4c as against 6.9c the previous year. This is before the private placement of 60c per share cum the bonus issue of 2 for 1.
Chart-wise, the stock is traded to a high of 35c and a low of 26c after the bonus issue, where it appears to be well supported. I have no idea what’s in store going forward. There were some SMS scams and some bad publicity going on about the company. Action speaks louder than words. Perhaps it’s best to follow your chart. As for me, I am holding on to my stake and hoping for happier days. I am not a trader.
What about MNRB?
MNRB is a reinsurance company. Its business activity is the underwriting of all classes of general reinsurance business.
An interim dividend of 20 sen per share has been paid. It has proposed a final dividend of 26c per share. At it last traded price of 5.35, the dividend yield is 8.598.
MNRB has 1.6 billion under investment. This stake is surely worth very much more in view of our bullish market.
Linde AG has offered to buy MNRB’s shares of 4,488,000 in MOX at RM15 per share. The offered price is now raised to RP17 per share. These shares were bought in 1981 for RM914, 463. At RM17 per share, this will give a capital gain of 75,381,537.
MNRB shall be going to
The above comments should not be construed as a recommendation to buy or sell. You buy or sell at your own risk absolutely.