Anzo Holdings May Trade Higher This Week
Anzo Holdings May Trade Higher This Week | Anzo Holdings Bhd may trade higher this week and some are expecting it to hit limit up this week to 48 sen. Looking at the recent price movement, I would think yes that it is quite possible
Firstly, Anzo has been the most active counter on the local stock exchange in the last 2 months. The stock was only trading around 4 sen and 5 sen early this year and then in the third week of June, it broke the 10 sen level and last week it was hovering around 16 sen and 20 sen (highest 20.5 on July 3)
Based on this movement, you can roughly estimate how the stock will be trading like this week
A lot of people are talking that there will be limit up this week, or as early as tomorrow. Maybe this would explain why the volume has been so high, making it the top 5 or top 10 most actively traded counter on the stock exchange
The company, which has a market capitalisation of roughly RM160 million is going through some good times with the emergence of new shareholders and new businesses
There is a lot of speculation that Anzo is expected to announce soon that a new shareholder will emerge in the company. The shareholder is believed to be a Chinese from either China or Hong Kong and he is part of a global fund
This anonymous investor, who will be known soon, has been buying shares in Anzo in the past few weeks, resulting in the high trading volume in the counter
In the last 2 weeks Anzo also announced two major deals that would help the company turnaround and be profitable long term.
The first is that it won a RM1.3 billion contract to supply copper scrap to a South Korean-based steel-making group starting from July 1
Anzo will export the products to South Korea via CSTME Resources Bhd, which interestingly, has bought up almost 12 per cent stake in Anzo
Then last week Anzo announced that it is paying RM55 million to buy a glove manufacturing company with assets in Manjung, Perak.
The factory is able to produce 1.2 billion pieces of medical gloves a year, valued at about RM400 million
I think there is no end to what Anzo will be doing this year. It is quite an interesting counter to watch!
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