Overall, we are seeing the market is showing weakness but there is still a selected counter which go up. After all, we do not see a strong catalyst for a particular sector which showing strong bullish signal.
However we do notice logistic do show some sign of movement such as complet, tasco.
Base on technical screener, there is several counters which appear under the radar for further monitoring such as
1 Minetec
Boss behind : Awang Daud Bin Awang Putera who also own serbadk, aimflex as well. Current share holding own 26.738% base on latest bursa announcement.
Chart Pattern : W Shape Formation, Pending for breakout.
Corporate Action propose base on bursa announcement date 18/3/2021 which propose share capital reduction, propose private placement, proposed right issues of ICPS, Proposed diversification into renewable energy which indicate that might be more trading interest or big player behind the scene.
Further information can be obtain by clicking this linkage : https://www.thestar.com.my/business/business-news/2021/03/17/minetech-to-raise-up-to-rm98mil
However, take note of the share capital reduction which may raise the concern of investor.
Net Cash company base on recent financial report but increasing trade receivable cycle and trade payable is an alert sign. However, there is no sudden surge of receivable which indicate the management managing their risk quite well.
Business transformation to solar related business.
News can be obtain by clicking below linkage.
https://www.theedgemarkets.com/article/minetech-now-solar-pv-investor-seda
New business venture into FinTec.
"With social distancing measures in place, over the counter transactions and sending cheques for instance have basically become almost impossible during the movement control order (MCO), therefore a solution like ours will help to overcome this," he said.
Awang said the partnership would provide Minetech with opportunities as the potential partner had already established a long-term relationship with two local banks since 2015.
He did not name the local financial technology solutions house and share further details.
Chart shown as below :
Prepared by Stevent Hee
Source obtain from
https://www.nst.com.my/business/2021/02/666194/minetech-ventures-fintech
Disclaimer : Trade at your own risk. This article does not solicit any buy/sell recommendation, it is merely for educational sharing purpose. Every investment there is element of risk.
https://klse.i3investor.com/blogs/SICStockPick/2021-04-20-story-h1563420978-Minetec.jsp
