Dayang’s Correction: Nothing Out of the Ordinary20th March 2019
Unless the author, editor, directors and Kenanaga (sic) Investment Bank can confirm that they do not have Dayang share, I will not believe the published article is not another skilful use of underhand trick to buy Dayang at cheaper prices.
That was a very strong statement from Mr. Koon. He was referring to this report by Kenanga entitled Dayang Enterprise Holding- Take Profit From This Rally (here).
Mr. Koon has rightly called a BUY on Carimin earlier and followed up on that success with a buy call on Dayang. Both calls were spot on, and he moved in quickly to build up a big position which proved to be very profitable.
I do not agree with his strongly-worded attack on Kenanga. Kenanga is in the business of advising the clients on maximizing their profit- be that short-term or long-term. Any one with a few years of investing experience can tell you that Dayang has overshot its fair value past few days and was due for a correction. The Kenanga analyst, who I have not met even though we are “colleagues”, merely pointed out that the risk of a correction may out-weigh the risk of further price gain. Thus, it is sensible to take some profit and wait for a lower price to re-enter the stock or to re-deplore the sale proceed to another stock which may give a better return.
Having said that, I’m always a big fan of Mr. Koon. His analysis are both sharp and incisive, and most importantly he put his money where his mouth is. I wish Mr. Koon continued success in his investment, and look forward to more sharing from him.
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