Play Matrix for a Year....

Matrix International will soon change its name to reflect its owners. It will be known as Berjaya Assets. After a re-capitalisation exercise in 2008, it is on solid ground to move ahead. A rights issue plus a convertible warrant was given sometime in 1H,2008. The warrant can only be exercisable with RM1 cash per unit share on par with current shares.It is for 10 years. At today's price, none has been exercised and perhaps some if the price should reach at beyond RM1.00. So what do you think will be the Matrix play? One thing,they are on a profit trail, not like in 2007 when they were swimming in red ink.

After the EGM on 3 August which changed its name to be a Berjaya stable company,the price started moving out beyond the 30 sen level. It has now sprung into action touching a high of 49.5 sen. I believe a 10% increase for a day is a big jump. However, being a low priced counter and a Berjaya counter at that, it may attract strategic retail buyers very soon.Today's price went to as low as 46.5 sen. It is a profit making corporate but will not pay dividends at least for another year or so. Best thing, it runs a number forecast in Sarawak.

Looking at the current market, price of Matrix will be range-bound and so its buying time.It should go up when the next leg up happens in our market.When? Rightly, after ASNB pumps in the new largesse from the AS1M funds. Playing up the blue-chips and syariah compliant shares will certainly move the market. Remember in March when EPF lent Valuecap RM5 billon? The Bursar went up like an arrow.

I will benchmark Matrix to Dijaya Corporation's price or may be beyond..........