Where is the Bottom for KPS?

There was light selling all day but in the end it amounted to a substantial volume. From RM1.25, it slided to RM1.11 before finishing off at RM1.13. There was really no sell-down.

I think there are serious collectors bargaining off weak holders. If it goes down further tomorrow perhaps to the RM1.00 mark, it will be in oversold position and the price may just bounce!

Just because Pahang has not corporatized does not jeopardise the water transfer project. Agreements would have to be signed first between the state governments of Pahang and Selangor. That will take time. The Federal Water Commision will only operate in the final quarter of 2007. By then, the Federal Treasury may have signed the loan agreement with the Japanese Bank. It is certainly foolhardy to expect things to happen overnight.

There are other projects for KPS like the Western Corridor toll Highway. This will impact upon KPS's share prices once the project gets tendered.

So it is just a rough patch for KPS. Best to hold on to your shares.

Quote of the Day:

Heartsong