Notion VTec Bhd’s executive chairman Thoo Chow Fah has been stepping up the purchase of the company’s shares and warrants of late.
Since Aug 10 2010, Thoo indirectly acquired 500,000 units of Notion shares for less than RM1 million, at prices ranging between RM1.85 and RM1.90, through his wife, Choo Wai Sook. He also purchased an additional 1.98 million warrants, also through his spouse, based on filings with Bursa Malaysia Securities. This brings Thoo’s direct and indirect interest in the company to 9.82% as at Aug 13, 2010.
Notion’s management may be taking advantage of the recent share price dip to raise their stake. Possibly, they could forsee it rising in the future. The move was a positive indication of the management’s confidence in the company and may mean that Notion was working on resolving the issues from its base plate project.
The Samsung 2.5” base plate project was of paramount importance. Notion’s reputation hinges on the Samsung 2.5” base plate project. Successful execution will put earnings back on track and see investors’ confidence regained.
Failure will raise doubt over Notion’s ability to secure and execute new projects. It is a make or break by March 2011. Moreover, Notion had indicated that it would drop the Samsung project if it failed to deliver the product up to the required standard by then.
As such, it will scale down its capex plans to RM30 million for FY11 (from RM100 million), dedicated to its Thai project (RM10 million) and camera segment expansion plans (RM20m).
Scan 05 Nov 2024
-
Symbol TypeDateClose PriceVolume13 Day RSI
ANCOM Overbought 11/5/2024 1.07 1590300 74.36
CYPARK Overbought 11/5/2024 0.84 7540100 74.73
HARTA Overbought 11/...
1 hour ago
No comments:
Post a Comment