KUALA LUMPUR (Sept 21) – The share of Ho Wah Genting, which dealers said has returned to the radar screen of speculators this week, rose in early trade today following a technical analysis that it should trade within 31sen-36 sen per share after yesterday’s rebound.

At 9.49 am Friday (today), the fifth most active stock rose 2.5 sen or 8.2% to 33 sen after rising to a high of 33.5 sen in early trade, on trades of 5.38 million shares.

“This is one of the favourites of market speculators. But many people are not aware that its net value per share is actually far below its trading price,” said a senior remisier following penny stocks.

A technical analysis published on the lead business page of Nanyang Siang Pau stated that Ho Wah Genting is set to rise further after rebounding 2 sen to end at 30.5 sen yesterday.

It added that the stock should enter a short rebound phase with prices ranging from 31 sen to 36 sen.

But on the fundamental side, the company incurred a net loss of RM2.21 million for the second quarter to end-June 2012, compared to a net profit of RM6.24 million in second quarter of 2011.

Its net asset per share at end-June was 16 sen, down from 19 sen in June 2011, according to the company’s filing with Bursa Malaysia.

The group's principal activities are said to be in the manufacture of moulded power supply cord sets and cable assemblies for electrical and electronic devices and equipment. Other activities include the operation of hotel, casino, resort, entertainment and leisure activities.

What you see is what you get.
I might and I might not have a trading position in stocks I post.
Trade smart!