Kuchai Development Bhd (Rm 2.74) - Jumped 42 sens (+18%)

After Kuchai has completed its sub-wave v in early January, I was expecting a higher degree wave (ii) consolidation that can last about 6 months. But Kuchai started to surge today after only about 6 weeks of consolidation whereby making the last pullback a lower degree sub-wave vi. Today is the starting of its sub-wave vii.

Since Kluang is holding about 45% or 55 million shares of Kuchai, it share price also moved up in tandem with Kuchai. It gained 20 sens (+4.6%) to close at Rm 4.50 today. Very likely Kluang has started its sub-wave v.

Similarly, Sg. Bagan has also moved up strongly today. It gained 30 sens or 8.8% to close at Rm 3.70. Same as Kluang, it is forming its sub-wave v too.

What is the latest news on Great Eastern Life Assurance (M) Bhd with regard to Bank Negara's ruling of 30% local equity participation by 30 June 2018? I have heard nothing so far.

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