Dow continues to move higher to complete its sub-wave v. Is this sub-wave v going to be the end of its major wave 7? Possibility is there.
FBMKLCI (1,755)
KLCI close 9 points lower for the whole of last week. As I have mentioned a few days ago, I expect KLCI to continues its down trend until middle of 2018 to complete its 15% correction in a slow and gradual manner.
Advance Synergy Bhd (Rm 0.155)
ASB is about to start its major wave 3.
It has completed its mega wave (2) at the end of 2016 and since then it has completed its major wave 1-2.
There is a possibility that the two green candlesticks on last Thursday and Friday marked the starting of its major wave 3.
For its quarter ending 30th June, the earning is a negative 0.51 sens a share with net assets at 65 sens a share. From its balance sheet, it has cash of Rm 181 million. Its total borrowing is Rm 99 millions. Net cash is Rm 82 millions. If I divide that by its total number of share of 677 millions, I get 12 sens of cash per share. It was selling at 15.5 sens last Friday. After deducting 12 sens of cash, the balance 3.5 sens is for ASB's other business.
Its business covers 'Hotels & Resorts' operation in Malaysia, China, Indonesia, Qatar, Vietnam, Cambodia, United Kingdom and Saudi Arabia (Holiday Villa & D-Villa Chains); Information and Communication Technology; Travel & Tours; Property Development; Bus-Body Fabrication; Education; Card & Payment Services; and lastly Wellness.
Asian Pac Holdings Bhd (Rm 0.175)
It is possible that Asiapac has just completed its major wave 4 and it has just started to form its major wave 5.
It has formed a triple-bottom at the 15 sens level to end its major wave 4.
For its last quarter ending 30th June, its earning per share is a miserable 0.4 sen but its net assets per share is very strong at 95 sens. Its last Friday closing price of 17.5 sens is a big 81% discount to its net assets.
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