The fight for control over Silver Bird (7136) continues with Tan Sri Vincent Tan adding more than double his stake. He now owns 14.4% compared to 6.2% last week. What is so attractive in Silver is still unknown to the public (me included). I believe that the MD Dato' Jackson Tan has just found an ally in the battle against Lembaga Tabung Haji. So, whoever wins the battle would likely offer an GO for the stock. There should be more upside for the stock from here. CIMB just upgraded the target price to RM1.00 from RM0.75, based on 2x P/BV.
Why hah? I bought 21,000 shares of Silverbird a couple of months ago at 39 sen because I thought it was severely undervalued (and also because my mum likes their sponge cakes). Today I saw it went up all the way to RM 1.00 although it settled at 95 sen by lunch time. Please tell me why, I really want to know.
ReplyDeleteIt is a sad day for me. I sold silverbird yesterday at 0.785 and PJI at 0.115 this afternoon, both counters went up more than 25%!
ReplyDeleteSigh!!!! Arrrrrggghhh!!!!
I didn't see your msg today until market closed. If I have seen it, I would have gone in again on Silverbird. Pls give me more directions!!!!!! - Surewin
It went up to as high as RM 1.12 this morning (Fri, 5 Oct 07). Then it started to go down. I got nervous and load off at RM 1.07. Considering I bought it at 39 sen a couple of months ago, and the fact that there's nothing special about this company, I thought anything above RM 1.00 is just insane.
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