BHIC : A Fishing Trawler at Work

Dullard Counter

The scene is on the high seas.

The industry is ship repairs and allied works

The company is one of the big Malaysian hongs helmed by the Armed Forces Cooperatives.

The counter is Boustead Heavy Industries Berhad (BHIC).

It has been moving quite well from RM 2.00 up to the RM 2.50 level.

It has anchored very long time at this stop.

Obvious reason. It is a dull counter. Little trading.

A remote possibility for privatisation? Sure, that was the same reason they gave when they privatised UAC.

I have been watching this counter keenly on the Odd Lot market to buy some BHIC shares.

Lonesome Trawler

Believe me, there is a lonely trawler out there pegging 84 shares daily at RM 3.15. This is way,way above the going price of RM 2.50.

There are some disinterested buyers on the other end sticking to their guns at RM 2.25 to RM 2.00

I do not expect any trading with this kind of wide margin.

Let us see what this trawler is up to.

He must either be  Ahab or the Ancient Mariner.

Irrespective, is he fishing for a sperm whale?