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agree with jeffrey, maybe somebody dont like the possibility of right issue for financing. so they sell off their shares. but long term is positive, cos they can tender the island.
@Lionel out of 4 Analysts, 2 gave high TP ard 4.2x n 4.0, 1 hold, 1 sell.. book value 5B over 4 years, PTPM confirmed.. good or not? only fear of rights issue and cash flow by day traders
if you all know the history of Genting Highlands, you will understand that LGT took up the challenge to develop the hill when no one wants due to communists and booby traps in jungle of Genting highlands. he overcome the challenge and today no one can challenge the business. how I know? my ex boss sister married one of LGT's son and so knows the story. sure risk is there, so is the rewards. u think Gamuda dont hire professionals and stand to benefit by not doing any cost benefit analysis?
but it's okay if day traders cannot stomach the risk and sell. let them. we will have the last laugh when the price hits 4.0 once the project kicks off. even if dont kick off, the annual dividend is quite steady. Penang state govt also put neck on the line to ensure the transport modernization to be a success. I am confident they can do it. why? nothing can stop since...
project own funding not federal govt, also penang is no.1 in tourists, manufacturing to name a few so if property am confident will take off.. they promised free wifi in Penang and they successfully carried out. we need to give some confidence to the state government in carrying successfully. the reason why share price falls is bcos a lot of traders want to go all in and hit and run. they cant stand long term play cause opportunity costs and have to respond to rights issue. that's my guess
Wah! Construction stock also can get this result is considered good loh. As Penang Government is shareholder also I think the confident level is there. Just that how they kick off the construction of Island A
