Friday, November 9, 2012

Keep Scalping On GLOMAC ^^



1. FABER - Sold all at RM1.38. ^^ LOL !! Always sell too early. :p

2. GLOMAC - Sold all at 0.84sen. 1sen profit. ^^ Sikit-sikit lama jadi bukit. ^^

3. WCT-WB - Copy & paste hng's as below :- ^^

Lets calculate intrinsic value for WCT-WB.

Now confirm that the exercise price of WCT-WB post WCT bonus and free warrant will be adjusted from 2.50 to 1.85.

Based on WCT current trading at 2.74, post bonus of 23 and free warrant of 4 for every exiting 20 WCT, ex-price WCT will be trading at 2.30.

WCT-WB will carry value at 2.30-1.85 = 45sen, offering potential doubling the value of current 23.5sen.

(Remark: adjust for fair value of WCT-WD to trade at 40sen post listing)

4. Watch List - FABER, GLOMAC, WCT, IGBREIT, BJTOTO

5. This week market a bit boring. Not much excitement at all. Probably due to US election i guess.

6. Good Luck & trade carefully as next week majority people go on leave. Market will be even more boring and less volume.

8 comments:

Gark said...

Might want to look at WCT-WC as well, post excercise price is 2.04, current price 0.435.

This one has longer expiry 2016, and currently trading at 7.6% premium post BI.

horse said...

Gark,

I think WCT-WB command a better premium post BI, it is > -10% though it has shorter life span. With this kind of premium it should be suffice for warrant holders to convert to mother share without fearing of huge drop of price. It has the buffer of nose dive to 1.85 from the theoritical ex-price of 2.33. Provided the approval come sooner then election. ^^

horse said...

Sorry, it should be from 2.33 to 2.10 as the cost of the WB is now at 0.23sen, need to factor this in.

Still it is quite decent and enough buffer for exercise, i would think or else just trade the WB will do without converting. ^^

hng said...

horse

WCT will having EGM to seek shareholder approval for its bonus and free warrant on 21 Nov, and is expect to declare entitlement date soon after and the ex-date before end of Dec. So, the whole proposal will be complete by end of these year. The exercise price of WB will be adjust soon after the ex- entitlement from 2.50 to 1.85.

horse said...

Thanks hng. If all these come reality by year end, then buying into this will give more confident as we can ignore the election factor. Worth taking a look.^^ in this case WB is still within the timeframe for these and can either trade or opt for exercising. Good luck all.

hng said...

horse

WCT-WB was issue at cost 25sen each, so the major shareholder must ensure WB is convertible to WCT to not only protect their own interest but also to safeguard their stake in WCT from being diluted.

hng said...

Bought Bjtoto at 4.31

hng said...

Ireka is gaining momentum to secure more and more contract, just within a week, Ireka already secure two contract worth total 135m

12 Nov 2012
The Board of Ireka Corporation Berhad (“ICB”) is pleased to announce that its wholly-owned subsidiary company, Ireka Engineering & Construction Sdn Bhd (“IECSB”), has accepted the Letter of Acceptance from Persys Sdn Bhd for the appointment of IECSB as Sub-Contractor for the construction and completion of main structural and other associated works under Package V7: construction and completion of Viaduct Guideway and other associated works from Bandar Tun Hussein Onn to Taman Mesra at a contract sum of RM65,045,646.94 (“Contract”). The contract period shall be forty seven (47) months.


7 Nov 2012
The Board of Ireka Corporation Berhad (“ICB”) is pleased to announce that its wholly-owned subsidiary company, Ireka Engineering & Construction Sdn Bhd (“IECSB”), has accepted the Letter of Acceptance from MTD Construction Sdn Bhd for the appointment of IECSB as Civil Works Contractor for the construction and completion of civil, sub-structure and other related works under Package V7: construction and completion of Viaduct Guideway and other associated works from Bandar Tun Hussein Onn to Taman Mesra at a contract sum of RM69,091,342.79 (“Contract”). The contract period shall be forty seven (47) months.

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