Dutaland Bhd (Rm 0.545)

Duta started to move up strongly with high volume in August upon the announcement that Boustead Plantation has proposed to buy from Duta 11,579.31 hectares of plantation land for Rm 750 million.

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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