SUPER (8656) - Hot Stock - Super Enterprise extends losses as investors take profit
April 6, 2015 : 3:55 PM MYT
KUALA LUMPUR (Apr 6): Super Enterprise Holdings Bhd fell as much as 14 sen or 4.9% today, extending its losses since last Friday as investors take profit after the counter hit a multi-year high on Thursday.
At 3.04 pm, it was traded at RM2.73, down 12 sen or 4.21%, with 282,400 shares changing hands. It was also one of the top losers on Bursa Malaysia today.
Alliance Investment Bank remisier Raymond Foo told theedgemarkets.com that investors started to take profit since last Friday after the share price surged on Thursday (Apr 2).
Super Enterprise (fundamental: 2.5; valuation: 1.4) hit a multi-year high of RM3.08 and closed at RM2.91 last Thursday (Apr 2) after it announced that Nasdaq-listed Multi-Color Corp was interested in buying a stake in the former.
Super Enterprise’s share price has more than doubled since the beginning of 2015.
The counter traded at RM1.33 on Jan 7.
Both Multi-Color and Super Enterprise have a common business in labelling solutions.
Foo also said investors were sceptical whether the Nasdaq company will eventually buy into Super Enterprise.
“It made ‘no sense’ for the Nasdaq company to tell the world before buying into Super Enterprise, pushing up the share price.
“If a company would buy into the any listed company, it should be done quietly so that it can get a good bargain,” Foo explained.
It is also worth noting that Super Enterprise’s substantial shareholder Lim Pei Tiam @ Liam Ahat Kiat had been disposing his shares on Mar 26, Mar 27 and Mar 30.
http://www.theedgemarkets.com/
April 6, 2015 : 3:55 PM MYT
KUALA LUMPUR (Apr 6): Super Enterprise Holdings Bhd fell as much as 14 sen or 4.9% today, extending its losses since last Friday as investors take profit after the counter hit a multi-year high on Thursday.
At 3.04 pm, it was traded at RM2.73, down 12 sen or 4.21%, with 282,400 shares changing hands. It was also one of the top losers on Bursa Malaysia today.
Alliance Investment Bank remisier Raymond Foo told theedgemarkets.com that investors started to take profit since last Friday after the share price surged on Thursday (Apr 2).
Super Enterprise (fundamental: 2.5; valuation: 1.4) hit a multi-year high of RM3.08 and closed at RM2.91 last Thursday (Apr 2) after it announced that Nasdaq-listed Multi-Color Corp was interested in buying a stake in the former.
Super Enterprise’s share price has more than doubled since the beginning of 2015.
The counter traded at RM1.33 on Jan 7.
Both Multi-Color and Super Enterprise have a common business in labelling solutions.
Foo also said investors were sceptical whether the Nasdaq company will eventually buy into Super Enterprise.
“It made ‘no sense’ for the Nasdaq company to tell the world before buying into Super Enterprise, pushing up the share price.
“If a company would buy into the any listed company, it should be done quietly so that it can get a good bargain,” Foo explained.
It is also worth noting that Super Enterprise’s substantial shareholder Lim Pei Tiam @ Liam Ahat Kiat had been disposing his shares on Mar 26, Mar 27 and Mar 30.
http://www.theedgemarkets.com/
