EKOVEST - PLACE YOUR BETS GENTLEMEN


When Bandar Malaysia was announced that it will be continued in April 2019, the construction industry heaved a sign of relief as this will keep up the construction activities in the country and provide the necessary jobs and multiplier effect in the sector.
 
Retailers chased the related stocks such as Ekovest and IWC amidst this excitement but alas there wasno follow up to the deposit placed by the IWC-CREC JV. The follow up was supposed to be executed in the next 60 days. Months later, the remaining payment was not paid. Worse of all, to date there is news coming from the Ministry of Finance on this matter.
 
The Ministry seems nonchalant about keepiing the rakyat updated on this Project.
 
The newspapers were also not inquisitive enough to probed into the matter. Except for a few chinese newspapers which are highly unreliable, there absolutely silent on the massive project.
 
Is the project going to go through?
 
The share price has been sideways since end June till today. Well, I believed there will be news coming out soon, latest by next month. This is indicated by the Bollinger Squeeze that is evident by the chart. But the problem is it could be good news or bad news. The news is likely to gap up or down the share price.
 
So, gentlemen take a careful look at the companies involved and place cautious bets as it can go either way. Mind you, The CEO has denied the involvement of Ekovest and IWC which gives rise to a possible RTO vehicle.
 
Let the game begin.
 
 

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