Limit up soon? Most probably YES!
Prior to CAELY-WA expiry on the 22nd April 2021, two major groups of substantial shareholder namely Group 1 of Dato' Wira Ng Chun Hau, and Group 2 of Dato' Chuah Chin Lai And Datin Fong Nyok Yoon had been acquiring and converting CAELY’s Warrants.
As of the 21st April 2021, the current shareholding as published is:
- Dato' Wira Ng Chun Hau 28%
- Dato' Chuah Chin Lai And Datin Fong Nyok Yoon 15%
- Dato’ Goh 28%
Those three Groups collectively own 71% of the available shares. If we assume that another 9% is collectively owned by their proxies, then the available shares in the market is around 20%.
Active trading was seen on the 23rd April 2021, closing at RM 0.40.
For a record, CAELY recorded the highest price in 52 weeks on the 4th August 2021 recorded the highest price to date at RM 0.80.
It is interesting to see how they outmanoeuvre against one another either to get an absolute control of CAELY’s Board and Management; OR they team up with each other to push up the market price beyond RM 1 apiece.
As a business entity, CAELY’s economic prospects look very good if the management can manage CAELY’s ailing property business more effectively.
Their garment business continue to contribute to CAELY’s earnings very steadily. If Dato’ Wira Ng can inject his gold business, then sky is the limit for CAELY.
: The above opinion is never intended to be a BUY CALL whatsoever.
Wealthstudio is sharing our observations. Wealthstudio analysis is based
on detailed research and analysis based on facts and figures available
in the market (thank you Google), plus technical analysis from
Tradingview's charting. Please make your own informed decision before
buying this share or whatever share for that matter.