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Author: wealthstudio   |   Latest post: Mon, 26 Apr 2021, 7:21 AM

 

NWP (5025) - Takeover by rival groups? Price to go up by 62%?

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Boardroom Tussle for controlling stake?

I detected an irregular volume increase in NWP on the 27th July 2020 and the 5th August 2020.

Looking back at price history from the technical chart, the fact on where recorded highest prices:

  • 28 April 2016 – Highest of 64.5 sen
  • 15 March 2018 – Highest of 35.5 sen
  • 25 February 2020 – Highest of 23 sen

As published by The Edge on the 4th August 2020, there is a big fight between at least three groups that hold substantial percentage of shareholding.

 

Datuk Seri Nelson Kee Soon Ling, a former CEO of NWP, is a well-known figure. He is the founder of one of Malaysia’s biggest Real Estate agent namely GS Realty Sdn Bhd.

 

It has been reported in The Edge that he holds approximately 24.55 percent of NWP. That is equivalent to RM 19.5 million value based on the closing price on the 5th August 2020.

Other prominent groups belong to Datuk Zhang Li, a Chinese national, and Datuk Seri Teh Chee Teong.

On the surface, the strategy is to own at least 51 percent of NWP shareholding. This can be done individually, or collectively by groups of substantial shareholders. (Somewhat similar to political parties that form either Pakatan or Perikatan).

With impending court cases, the battle is going to be very interesting. The winner of the board room tussle will have a strong point to drop or pursue the respective court cases against their enemy.

I believe that NWP will be pushed higher as the concerned parties will be trying hard to collect as many shares as possible at competitive prices.

The price is expected to break resistance of 23 sen and going all the way to 30 sen (which is good target for TP1).

 

Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.

 

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Labels: NWP

Related Stocks

Chart Stock Name Last Change Volume 
NWP 0.20 -0.005 (2.44%) 19,800,200 

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