From August's low of 41 sens Duta share price moved to a high of 73 sens (+78%) by end of October. The subsequent price consolidation brought the price to 52 sens by end of November. Since then Duta has formed 5 little waves in up-trend direction.
There is a possibility that Duta has completed its wave (iv) correction and is on its way to complete its wave (v).
From Duta's latest quarterly report, it has a net cash position of Rm 5 millions. Once the land sale is completed, Duta will have cash of Rm 755 millions, which is 89 sens of cash a share in addition to its 26 hectares of land at Kenny Height that has a market value of Rm 1.068 billion. Duta's share in Kenny Height is 58% with Olympia having the balance of 42%.
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