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After Advance Synergy, Zahid-linked MQTech & Jiankun are investors' next "darling"?

Kuala Lumpur 26 September 2011 Tinjauan di papan saham utama menunjukkan merudum secara mendadak berikutan harga saham di Bursa Malaysia ditutup terendah hari ini, meneruskan kerugin besar sejak kelmarin berturut-turut susulan kejatuhan semalaman serta ke

KUALA LUMPUR: Advance Synergy Bhd, a counter linked to Datuk Seri Anwar Ibrahim, was a darling of the local stock market in the recent weeks before his appointment as Malaysia's 10th prime minister.

After Parliament was dissolved, Advance Synergy skyrocketed almost 400 per cent from a low of 6.5 sen on Nov 4 to a high of 32 sen on Nov 24, which coincided with Anwar's appointment as PM.

Advance Synergy's share movement was a typical example of "Buy on rumours and sell on facts", market watchers said.

The next question on everyone's mind is "Which politically-linked counter will be next?"

The answer would depend on who would be the next Deputy Prime Minister (DPM), they said.

The main parties of the unity government are Pakatan Harapan (PH) and Barisan National (BN).

Since the PM was from PH, it was not too far-fetched to expect the next DPM to be from the BN camp, market watchers said.

The current leader of BN is Datuk Seri Dr Ahmad Zahid Hamidi and there are strong rumours that he would most likely be chosen as DPM.

MQ Technology Bhd and Jiankun International Bhd are both linked to Zahid.

Zahid's daughter Datuk Nurulhidayah Ahmad Zahid is on the board of MQTech, while his son-in-law Datuk Saiful Nizam Mohd Yusoff is on the Jiankun board.

It will be interesting to see if the two counters are able to repeat the performance of Advance Synergy in the coming days.

Last Friday, MQTech closed at RM0.040 with 17.4 million shares traded, while Jiankun settled at 21.5 sen.

If history does repeat itself, the target price of MQTech should be around 20 sen while Jiankun's should be touching RM1.00.

Even if the two counters' performance is half of that of Advance Synergy, the price increase should be lucrative enough to draw significant attention, bringing both these counters to the list of top 10 volumes.

https://www.nst.com.my/business/2022/11/855790/after-advance-synergy-zahid-linked-mqtech-jiankun-are-investors-next-darling

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