Land & General (L&G) moved higher everyday in the last 4 trading sessions from 41 sens to 47.5 sens with high volume.
My wave count for L&G is as shown below.
L&G is currently forming its sub-wave iii of wave (i) of major wave 3.
L&G earned 3.86 sen a share for its latest quarter ending 30th September. It has Rm 293 million cash in hand with bank borrowing at Rm 26 million. Assuming full conversion of its 77 million ICULS, the number of share is 636 million. Cash per share is about 42 sen. With quarterly earning at 3.86 sen and cash per share of 42 sen, L&G looks cheap at 47.5 sen.
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