The Potential PN17 – Unicorn !!

 

The Potential PN17 – Unicorn !!

 

Asia Media (0159)

 

On 15 January , AMEDIA (0159) appointed Krish Maniam & Co as their legal advisor, which led to BURSA Malaysia’s query letter. 

 

Today AMEDIA (0159) replied;

The newly appointed legal adviser: Krish Maniam & Co is tasked to investigate suspicious and potentially fradulent transactions of Asia Media under the former CEO Dato' Ricky Wong Shee Kai in the amount of RM103,198,076.

 

Picture snipped from Bursa Announcement ( https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=110857&name=EA_GA_ATTACHMENTS )

 

In the event of successful recovery of this RM103 million minus current debt of RM5 million, AMEDIA (0159) will be sitting on RM0.40 cash per share.

 

Technicals:

 

 

AMEDIA (0159) is currently on a uptrend after forming higher highs and higher lows. Should the resistance of RM0.200 be broken, The next nearest possible resistance is at RM0.255. Consolidation also done, as todays intraday trade of higher buying interest with volume. 

Reward to risk ratio is essentially 2:1.

 

What will you do ?

 

Disclaimer: This post serves as an educational analysis and is not a buy/sell call/ recomendation.Investors must carry out their own due deligence before any decisions is made.The author of this post is not liable for any decisions made by any individual

https://klse.i3investor.com/blogs/THP/2021-01-19-story-h1539413983-The_Potential_PN17_Unicorn.jsp