Time Would Not Sit Still?

After a history of more downs than ups,why is Time Engineering (Time),a sleeper stock, hogging the volume limelight this morning?

Hitting a high of 37.5 sen after the recent AGM and price adjustment for the 3 sen net dividend payout, Time went up from 33 sen to trade at the 36 sen to 36.5 sen currently.

Why is there a sudden interest in this counter when it goes ex? Is someone just collecting dividends and disposing the shares? Unlikely. If so, who is the buyer since from the CEO's briefing at the AGM, it was just hopeful talk about regional tender successes-albeit, small in value; a lot of unused cash in the kitty and very little else? Is there a mystery buyer who is going for the cash? Is Khazanah parcelling Time up for a sell-out to an UMNO bigwig? This is the more likely reason for the interest, I think.

There is no smoke without fire in spite of today's advance science that will tell you so that there could be smoke-like plumes without fire.

In a nutshell, TIME prides itself as a leading Malaysian IT infrastructure service provider. It also purveys cyber security and e-commerce solutions and an assortment of IT services. Time also claims that it has soared beyond national borders in to the ASEAN landscape and growing from strength to strength regionally.

Strength-wise, Time is a government-linked company, with the Malaysian government having a 45.3% stake in the organisation through Khazanah and UEM Land.

Will it breach the 40 sen and move ahead?

The highest price touched was 63 sen achieved in 2011 and the highest price this year was 40 sen and the lowest,30 sen.

We shall have to watch out whether there is price and volume traction today.

PS:

Time Engineering went into sleeper mode again and slid to the 34-35 sen range. We have to wait for the Khazanah announcement whether Syed Mokhtar will take over Time Engineering. I think a majority control will push up the price of this counter,more so if it is a candidate for Syed Mokhtar's empire which currently needs a telephone land-line outfit and perhaps a bigger commercial bank to boot.