Prospect:
With a stronger order book in construction and improved profit contributions from China concessions,the Group is confident that the current financial year’s performance will improve barring any unforeseen circumstances. The Group continues to expand its core businesses overseas and had set up an office in Ho Chi Minh City, Vietnam in April 2009 and is setting up an office in Hyderabad, India, to tap into the vast construction projects for water and wastewater in these two highly populated countries.
NTA = RM0.65 as at 30-6-2009
Financial position = OK
Support level 1: RM0.510
Support level 2: RM0.560
Resistance level 1:RM0.610
Resistance level 2:RM0.650
Consolidate at RM0.510-0.550 level. Good buy at RM0.55-RM0.58 level.
Any breakout at RM0.620 level will see the share price try RM0.68, then RM0.75.
Hope the 3Q financial result can show good improvement then we can expect the share price moving up.
Good Luck!
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