Saturday, August 11, 2007

PPerdana (5117), one that goes against the bearish sentiment

Amid bearish sentiment PPerdana (PP) jumped 38 sen to close at 3.28 yesterday. Demand for the stock is reflected in the long white candle with good volume.

This 50 sen par value counter has just changed controlling interest. E & O has sold its 50.6% stake to Swan Symphony sb (SS) at 2.90 per share.

SS is 51% owned by Abu Dhabi-Kuwait-Malaysian Investment Corp and 49% owned by Autron Investment.

Presently PP is a small-cap company. As at March 31, 2007, the number of shares issued stands at 135,002k. It has a clean balance sheet and excellent management.

The company is in its infancy of being transformed into a construction giant. A buy and hold strategy will probably turn out to be beneficial. To read more, click here.

As usual, you buy and sell at your own risk.