To buy or sell Gadang

On 10th Aug 2016 I posted the following article:

Gadang is showing a strong buying signal – Koon Yew Yin

Author: Koon Yew Yin   |   Publish date: Wed, 10 Aug 2016, 09:53 AM

The price chart is showing the formation of a cup and handle which is a strong buying signal.

CHART is not reproduced to save space

This is a real test for those who have sold earlier at a cheaper price to buy back. Do you dare to admit your mistake and buy back at a higher price?

This reminds me of VS Industry when many people sold during its correction. I told all my friends to buy back when the company continued to show increasing quarterly earnings. Eventually I accumulated more than 100 million VS shares to become the 2nd largest shareholder. Of course, I sold more than half of my holdings to realise some profit.

I am obliged to tell you that I have a lot of Gadang shares and I am not asking to buy to help me.  If you buy, you are doing it at your own risk.

On 11th Aug 2016 ah_boon posted the following:

As much as I do not want to lower my dignity to respond to little ah_boon, I need to because my intention is sincere and I want to teach people how to make more money from the stock market. I do not need little ah_boon to buy a few shares to push up the prices to help me richer.

I can afford to donate to the Penang Government Rm 50 million to build student hostels and more than 10 years ago, I have started giving scholarships to help poor students to complete their tertiary education. Up to now, I have given more than 300 scholarships.

Moreover, I have helped many people to become multi-millionaires including Dato Lin Yun Ling, MD of Gamuda, Tan Sri Dato Kok Onn, MD of Gadang and Dato Richard Fong, Dy Chairman of Glomac. All these 4 famous Datos and Tan Sri were my employees before.

In fact, I gave my company Gamuda to Dato Lin Yun Ling for a song and in his wedding speech, he thanked and called me SIFU.

I also gave some money to Dato Richard Fong to start Glomac.

Many people wanted to know why I am still not a Dato.

About 50 years ago, I was on the Board of Engineers Malaysia and SIRIM Committee for writing the Malaysian Standard for Cement and Concrete. I was also the Chairman of the disciplinary committee for Engineering Practice. I rejected an offer of Datoship from the Federal Government.

About 20 years ago, when Sultan Izlan Shah ascended the Perak Throne I also rejected a Datoship offer.

About 2 years ago, Penang Chief Minister, Lim Guan Eng and Nga Kor Ming came to my house during the Chinese New Year festive season and subsequently offered me a Datoship and I told them that I did not need it.

If I am a Dato, little ah_boon would have bought Gadang, CSC Steel and my other recommended  shares. Little ah_boon must always remember that I do not need him to buy a few shares to push up the prices to make me richer.

As readers would know that I have posted many articles on Latitude which went up more than 800% within 24 months. I also have posted articles on VS Industry and Lii Hen which went up more than 500% within 18 months. But little ah_boon did not believe me.

On 16th Sept 2016, as soon as I saw in the local newspapers that Megasteel was closed, I posted my article “Megasteel closure will benefit other steel manufacturers”, in which I recommended buy on CSC Steel. Since then the price of CSC Steel has been shooting up like a rocket but little ah_boon did not buy.

I believe my articles would have made many readers richer but not little ah_boon.

My real intention in writing this piece is not only to satisfy my own ego but to share my knowledge from my long experience.

I also posted many articles on politics to teach people how to vote wisely to throw out the current corrupted Government.

Yesterday Gadang announced in Bursa the following:   

Gadang Holdings Berhad (“Gadang” or “Company”) is pleased to announce that it had accepted a Letter of Award from Kwasa Land Sdn Bhd (“Kwasa Land”) as its development partner to develop the proposed residential development identified as R3-1 of “Kwasa Damansara Township” District of Petaling Selangor Darul Ehsan.

The award is subject to a definitive agreement to be entered into between Gadang and Kwasa Land.

A further announcement on the details of the award shall be released by the Company upon signing of the definitive agreement.  

About 2 months ago, Tan Sri Dato Kok Onn told me that he always joint venture with land owners and that is why Gadang has more than Rm 100 million cash, unlike most property companies with lots of borrowings.

If you want to be poor like little ah_boon, sell Gadang. 

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

To Top