Sunday, November 24, 2019

Last week for quarterly report announcement.

Pinehill Pacific Bhd (PN17) (Rm 0.30)

For those companies that have yet to announce their quarterly earning ending 30/9/2019, they must announce by next Friday (29/11/2019). Pinepac is one of such company and must announce its result within the next 5 working days. It is going to be very interesting to see what sort of earning Pinepac is going to announce.

On 3 September 2019, Pinepac announced that the company has completed its sale of 8,999.13 acres of plantation to United Plantation Bhd for Rm413.574 million after receiving the balance of outstanding payment.

The book value stated in its annual report is Rm240.046 million. Surplus over book value is Rm173.528 million. Pinepac has 149.8 million shares, surplus value per share is Rm1.16. Is Pinepac going to announce an earning of more than one ringgit for its quarter ending 30/9/2019 and with net assets increase from Rm0.43 to Rm1.59 a share?

After paying off all borrowings totaled Rm186.047 million, this PN17 net cash company is having cash of Rm227.527 million or Rm1.52 of cash per share. Pinepac was selling at 30 sens last Friday. Looked funny. Or is there anything that I am not aware of?

From the chart, Pinepac has completed its major wave 2 on 14 October at 24.5 sens.

Fintec Global Bhd (Rm0.075)

Fintec is expected to announce good result because of asset revaluation surplus.

Fintec is a technology incubation and investment holding company. It is holding shares in six listed companies, namely Focus Dynamics Group Bhd, Vsolar Group Bhd, AT Systematization Bhd, Netx Holdings Bhd, DGB Asia Bhd and Mlabs Systems Bhd.

For its previous quarter ending 30/6/2019, Fintec announced earning per share of 4 sen with net assets per share of 28 sens due to fair value gain of Rm19.74 million on quoted securities.

Fintec must announce its earning for quarter ending 30/9/2019 within the next 5 trading days. During period from 30/6/2019 to 30/9/2019, the total market value of its six listed company has further increased by Rm75 million. The contribution is mainly by Focus, its share price has increased from 19.5 sens to 36 sens during the period and Fintec is holding 500.6 million shares of Focus.

Divide Rm75 million by Fintec's number of share (638 million), the fair value of its investment holdings increased by 11.7 sens. Is Fintec going to announce an earning of 11 sens  and net assets of 39 sens for its quarterly result ending 30/9/2019? Just wait and see.

From Fintec's 10-Year chart, its current rebound is the wave 4 of its wave C of its mega wave (2). Theoretically it has to end around 11 sens, another 3.5 sens (+45%) to go.

Insas Bhd (Rm0.86)

Insas is forming its mini wave 4 at this moment. There is one more 'up', the mini wave 5 to complete its sub-wave iii. It is a slow and frustrating stock.

Dow (27,875)

Dow started to move lower last week. If it can hold above its upper trendline and can continue to move higher and higher, it is major wave 9 in progress.

But if Dow were to drop below its upper trendline and continue to move lower and lower, then it is forming the wave E of its major wave 8.The 3 possibilities I mentioned in my previous week posting still hold.

The most important issue now is whether the US President going to veto the Hong Kong Human Rights and Democracy Acts.


No comments: