EngKong   

Eng Kong - Wrts issue

eng kong seems waking up real soon per TA....

 

actually Eng Kong holding up really well oredi.. juz some little news will push it all e way.. kinda of like Ah Poh. Counters like this seems like vic's forte ya..

 

EngKong keeps going downwards these few days

 

near term Eng Kong T=0.42 is in-sight pretty soon... keke!

 

vic, may I know what your target price is? thx

 

Seeing Ek edging up makes my day :)

saw this from their website, delighted to see one of my fav countries being covered too :)

Eng Kong regional locations:

1. Singapore

2. Hong Kong

3. Malaysia, Penang

4. Malaysia, Port Klang

5. Malaysia, Pair Gudang

6. Thailand, Bangkok

7. Thailand, Laemchabang

8. China, Qingdao

9. China, Shanghai

10. China, Tianjin

11. China, Yantian

12. China, Shekou

13. Taiwan, Keelung

14. Vietnam, Ho Chi Minh City

 

 

wow! significant movement today.

 

Hi Victorian,

Welcome back!sori to hear your sad news. pl accept my condolences. 

 

25 June:

The Board of Directors of Eng Kong Holdings Limited (the "Company") wishes to announce that its 49% owned associated company, Eastern Teamgroup Sdn Bhd ("ETSB") has on 20 June 2007 established and acquired the entire issued and paid up share capital of a company in Malaysia known as Eastern Merge Sdn Bhd ("EMSB"). EMSB will henceforth be a wholly owned subsidiary of ETSB.

EMSB will purchase a ship and take over the business activities from QEL Shipping Sdn Bhd ("QEL") to operate a dedicated shuttle feeder service between Port Klang and Belawan under the "one ship one company concept". QEL is a 25% owned associated company of the Company's wholly owned company, New Eng Kong Container Logistic Services (M) Sdn. Bhd.

As at the date of this announcement, the paid up and issued share capital in EMSB is RM2 comprised of 2 ordinary shares of RM1 each. The paid up and issued share capital of EMSB will be increased to RM1,000,000 comprising of 1,000,000 ordinary shares of RM1 each. EMSB will become an associated company of the Company by virtue of the Company's 49% investment in ETSB.

This is in line with the Group's strategy to continuously pursue business opportunities to position itself for further growth.

The investment will be funded by internal resources and not expected to have any material impact on the earnings per share or net assets per share of the Group for the financial year ending 31 December 2007.

 

go for EK... try to buy if it dips.

 

look at the past analysis in this thread...i have already vested when it was 0.27...still climbing and the charts really look good as well as its FA...parking your $ is a good option

 

wow. surged upwards. was thinking where to park my $$. here or Ah poh. advise? 

 

We know the general trend is up.

ADX is showing healthy up trend strength since the initial surge at 1st JUNE.

After today's session, D+ is down to 49 from 52 but D- has not reverse upward as yet so I am not too worried about the overall trend strength diminishing for now.

Lets hope tomorrow the price will break 0.335.

 

 

 

took the opportunity to scoop some more today :)

 

hey kilroy, one last thought:

they may be increasing ek float size because it's too cornered, so need to avoid the 80% ruling to avoid having to make a GO. which is not part of the game plan.

 

hey kilroy,

don't expect the placement to have much effect on fair value target, since the dilution for the top shareholders is less than 0.1% of their holdings. (see sgx announcements today)

whole market wise: ek original float was 233mil. with the new 418,000 shares in, the dilution in effect is only 0.17% of the original.

NTA-wise, the change is only ~0.1c. ie, at book-to-price of 2x, fair value target shifts by 0.2c. A negligible difference, really. esp since by sgx regulation, the pennies move by 0.5c bid size for trading! 

currently seeing quite a bit of sell downs, likely a kneejerk reaction to placement. plus contra profit taking. but then, no dif from the initial peak-to-consol that i called. in fact, i'm not expecting ek to do a complete retracement. don't believe it'll drop below 31c, actually. but see how.

think the new converted warrants were likely mainly owned by the top directors: see sgx announcements a couple mths ago: the directors had been converting their warrants like crazy since then. logical pattern follows through.

and what does mister kilroy thinks? :)    

 

vic/elf whats your deliberation on EK's fair value after the placement?

These days with the increased volume, indicators started showing market sentiment. :)

 

hold onto ek. likely to do one cent spike ups tmrw and thurs.

same pattern as 20th to 26th apr.

float very very tight alr; techs beginning to show skewed pattern.

cyjjery, you want to contra, smb is a better option. float more liquid. need to time entrance and exit tho.

ek might be a bit difficult to contra large lots since very tight float. if you're buying a lot, might have to sell down the quotes; risk getting caught in T+5 trap this way.

 

yea bought for the mid-term when it was 0.27...gonna make really big gains man...thanks for the call~! anyway...kinda tempted to go short term...contra EK...think its a good time to enter still?

 

thanks vic !!!

spot on prediction !! sincerely admire ur FA skills and selfless contributions. :)