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From Feb to May 12, One foreign institution accumulating CMZ shares from 4.92% to 11.11% and in Feb 12 they have bought 2.139 million shares at $1.14 per share. It seems that if you are buy now you are smarter than institutions. Something is fishy why the share price crash so much.
Please check their annual report thru SGX website.
Can anybody confirm that GIC has 16% stake in this co ? Thanks.
khlixin ( Date: 17-May-2012 19:01) Posted:
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Can anybody confirm GIC has 16% stake in this co ? Thanks.
khlixin ( Date: 17-May-2012 18:46) Posted:
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No more than 25m shares(less than 5% of total issed shares) traded these few days and the price was pressed down so hard. So may be is the good chance to invest in such a good co. Please do your homework and good luck.
churnw ( Date: 17-May-2012 18:20) Posted:
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I mean that....
This Company got profit..... and no losses......
Same here 1st time see counter press down to that low........
yah, very shocking.........In my 4 years in stocks , 1st time see got profit counter NO Loss(somemore outlook quite ok) and yet price crash from 84 cts to 58 cts in a few short days...........Really even those sai profit warning lnet osscounters also never crash this badly in a few short days.
Some more got BIG FUNDS templeton buy from open market somemore
got profit .........no losses.............. big fish sell down . then suddenly push up
my guess is rights issue or placement coming.
BBs can play this trick - press down the mother share b4 pricing the rights issue and then mob up more rights share to increase their holding %.
neutral ( Date: 17-May-2012 13:16) Posted:
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very shocking, this good FA counter crash from 84 cts to 58.5 cts just now within a short few trading days...........
even other counters that annouce profit warning like Wilmar and Midas also never crash so badly like CMZ.....
Anyone knows what is the real reasons for CMZ's crash this past 3 days?? Today market positive but yet CMZ is still dropping despite alrady plunge so much is the past few days
I read from another forum which 1 forumner said CMZ crashed this few days is becos CMZ missed their earnings forecast on 14th May, can you or any forumner verify is this true or not?
angmohlin ( Date: 15-May-2012 21:53) Posted:
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u bought how many lots at average what price?
BTW, at what price will u cut loss yr CMZ lots without hesistation if it were to fall to that price? Or u will hold on regardless how low it falls to?
angmohlin ( Date: 16-May-2012 20:43) Posted:
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From the technical point of view, it may be a good idea to cut loss and buy back later. Support turned resistance now. Just my 2 cents. I have vested yesterday and now suffered a loss but I will keep for mid/long term since this is a good counter from the fundamental point of view. Consult your broker before action.
Looks like quite confirmed will close below 66.5 cts.
Now 64.5 to 65 cts so if really close below 66.5 cts today, do u suggest for those vested to cut 1st and wait to buy back at lower levels??
angmohlin ( Date: 16-May-2012 11:37) Posted:
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This counter was well-covered by 9 research houses from foreign & local institutions with the average of target price of $1.58 (ranging from $0.95 to $2.35). The weakness is this counter is not so popular despite earning not bad.
My opinion is that from the fundamental point of view, this is a good counter. PE is around 3.5. The counter is under serious oversold. At current price, the risk & reward is 1:5.
66.5 cents is very important support. Closing price below that signal cautious.
I may not want to sell off if small rebound in these two days and to keep for at least 20% profit.
at roughly what price will you sell the CMZ lots that u bought today?
angmohlin ( Date: 15-May-2012 21:53) Posted:
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Is China Minzhong value for money? Share price of $0.69 has almost reached all-time low of $0.665 and is about 43.44% lower than the NAV of $1.22. Currently this counter is under serious oversold. EPS for the past three years are $0.206, $0.216 & $0.214 respectively. GPM 40.0% to 41.5%. Nowadays, no much company can have so good profit margin. IPO in 2010 at $1.20 per share and all-time high is $1.90. GIC owns 16.91%. Top 20% shareholders owns 97.42%. From Feb to May 12, One Worldwide Fund Manager accumulating shares from 4.92% to 11.11%. I have vested today.