MKLand has sought indulgence from holders of The Seven Year Series of Tranche 1 Bonds and Tranche 2 Bonds for
deferring the obligation to place monies into the Sinking Fund Account (“SFA”). This is a serious change in the terms of a Bond Issue, but under the circumstances, it is likely that the bondholders would agree to the request. A rejection would result in a default, which I do not believe the bondholders would to live with at this moment. Nevertheless, for MKLand, this is a serious blow. It has planned to raise some funds via a private placement ( go
here) but this did not materialize due to the poor market condition. It is difficult to see how it could do so in the near future, unless the market can recover significantly soon.
The share price dropped to a low of RM0.34 in the early morning before recovering to close at RM0.365 (losing 10 sen from last Friday's close). The stock is now trading at its all-time low. Given the poor market outlook, it is best to avoid this stock.
Chart: MKLand's monthly chart as at May 2, 2008 (courtesy of Quickcharts)
2 comments:
Hi Alex,
We admire your technical analysis knowledge and had made your blog as our sole TA column in http://www.bursatradingideas.com
All your latest blogs are automatically indexed on our site.
We would be glad if you could provide a link to our site on your blog as we reckon that your site commands lots of followers as well.
Thanks, regards.
I can see you guys have done a very nice job at Bursatradingideas. I have yet to set up any link exchange with any local webblogs & websites. When I get around to do so, I am sure I would include your website.
Post a Comment