Nooruladha’s Weblog


Pelikan, update1
May 21, 2008, 3:37 am
Filed under: Uncategorized

Well, i checked this morning and find the price hovering at 2.85. Not many investors, except from some small timers. The lot bought averaged 30.

What I liked about Pelikan is its quarterly bonus, since its inception in 2006. After the takeover and consolidation by Pelikan Malaysia, the company has been consistent in its bonus payout, albeit smaller in amount over time. The quarterly result has been a roller coaster ride, due to its seasonal nature for its product. But, it has tried to rectified that by its hard copy division, so we should see more stable revenue quarterly.

If only Ramunia could be like that. All it has right now, is potential. The MISC RTO is still underphase, prolonged with no reason given. Banks are not willing to finance its oversea project, unless until the RTO is over. Its project with ONGC is troublesome, in court, and its bidding is was below other competitor. The only consolation will be its TMI MD, Mr. Angh (I think). This dude has been in India before, when he steered Hyundai during the entry into the murky water of Indian continent. Well, the think about India’s culture is, at every level they expect kickbacks, its a culture that’s even worse than Malaysia. This dude, btw, is confident that he can deliver ontime, and he can offset the high steel price by buying ahead of time. So, we’ll see. I need to ask my fellow informant how’s the progress of things.

Today, I saw the price shoot up 9 cents with trading volume 80000 lots at 11.30. The current price is rm1.39. If only Ramunia can give generous dividend. So far, the play has been only on capital gain.

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