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I am guessing their move. May or may not materialise. With better P/L result due to high freight rate "plus" buy back exercise "Less" the Ling Chiong Sieng selling of his shares, the stock price should be moving up.
Shin Yang in commodity business like oil palm and log also. Hence, they will make sure the stock price should be reflective of the current shipping line prices. I think with the buy back approved, the price should be on uptrend as long as KLSE is on uptrend.
Leo, KLSE maybe on uptrend next week, as Budget 2022 is focusing on economy recovery and keluarga Malaysia. Looking forward for goodies for small businesses and general public.
Buy back is showing the management is confident that the valuation of the stock is higher than the current stock price. It could be a indication that they know the next QR is good.
Yes, it is rare for the founder Tan Sri Ling to try to impress media on positive prospect of Syscorp direction. He must be very sure on the strong growth forward. And this is proven by the active share buy back program.
