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It seems that almost every PN17 company applies for extension twice or more ... delay as long as you can. What is so difficult to draft plan on the paper and submit ... ? Consultants do it for few ringitts.
It is growing revenue and expanding customer base. But the risk is that if Petronas does not continue with them, they will go out of business. Can you trust in Petronas spending on capex ?
This was my pick a year ago, but I did not meet criteria for buying (sophisticated investor). I even contacted them on investor email to ask about private placement, but there was no response. I think I tried on linkedin, also no reply. I will buy some at the IPO day. Not subscribing.
No. But the counter is doing surprisingly well. I start to believe that insiders know something. White elephant sold ? Or maybe new PN17 Plan ready to submit.
I am negative on Alam since the spike. But I think that there is no more downside. The price will settle here, or even rebound slightly. This was a general market disaster, Alam already priced it in. Good Luck.