Presbhd recorded an all-time intraday high of RM3.37 on 18.02.2014, and 3 days later, on 21.02.2014, it recorded another new all-time intraday high of RM3.51 which was partly due to the unexpected announcement of Bonus issue a day earlier on 20.2.2014. However, due to persisting selling pressure, the stock price retraced and only managed to close 1 cent higher at RM3.30.
Many people were felt disappointed at the closing trading session on Friday. After all, everyone was expecting a solid close because of the Bonus issue announcement.
For quite a long time, the stock price fluctuation has been quite orderly but last Friday was quite an exceptional day. There were indeed some trading abnormality on last Friday. Little was known to many people, 2 giants were fighting on that day. Apparently one giant was caught off guard to the unexpected announcement while the other giant was keeping things wrapped so tightly that they had made their moves very much earlier undetected. One giant felt that their ego got bruised, thus they unleashed a furry pressure to suppress the price hike. In the end, the losers on that fateful Friday were the retail players themselves. They thought they could make a killing but they got themselves slaughtered. But don't despair. The price climbed back with a convincing close today at RM3.46, upped 16 cents. It is also an all-time high close so far. All-time intraday high was RM3.51 and it is expected to be breached in the near term.
With a good Q4 financial report which was reported on Thursday 20.02.2014 coupled with Bonus issue announcement, the corporate story for Presbhd is getting better and stronger by the month. Avalanche of research houses started to give their research report with revised upward target price. The latest being from CIMB that put their target price at RM4.45. Whilst I am not surprise at all but I feel they should be more bold to give a more stronger target price, just like how RHB gave a bold target price for DSonic not too long ago.
Presbhd declares a total of 12 cents dividend for the year 2013. For comparison, the company declared 10 cents and 8 cents dividend for year 2012 and 2011 respectively,
Well, what more need to say about Presbhd now. Many research houses have offered their piece of opinion. If you still don't believe this is a strong growth company with robust business plans, then I think nothing will convince you anymore.