Tuesday, September 27, 2016
Tekseng: Solar Division Retrenching 200 Workers
NST just reported this: "TS Solartech Sdn Bhd - a subsidiary of Tek Seng Holdings Bhd - that some of its employees will be out of work as early as tomorrow. TS Solartech is a mainland Penang-based crystalline silicon solar cell maker in which Taiwan-based Solartech Energy holds a 42 per cent stake." For more, go here.
This means that Tekseng, which is fairly dependent on the Solar Division, may not do well going forward. For financial performance, check out my earlier report.
Chart: Tekseng's daily chart as at Sep 27, 2014_4.45 (Source: Shareinvestor.com)
Based on this news, we can expect the share price to be weak. You may want to reduce your position in this stock
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