Mudajaya target price was downgraded by CIMB Securities from RM 4.81 to RM 4.00. OSK Research maintains Mudajaya target price at RM 3.94 (upgraded on last research report). Around 75% upside but no one seem willing to buy Mudajaya stock. Why?

MUDAJYA past 2 months stock price

MUDAJYA Target Price
RM 4.00 ~ CIMB Securities
RM 3.94 ~ OSK Research

Mudajaya target price was downgraded again by both CIMB Securities and OSK Research. Reason? Managing Director (MD), Mr. Ng Yin Loong (may be regarded as the founder of Mudajaya) has tendered his resignation. CIMB Securities increased its RNAV discount from 20% to 30% in view of the short-term concerns that this change in leadership. While OSK Research increased SOP discount from 30% to 50%.

MUDAJYA past 2 months stock price

MUDAJYA Target Price
RM 4.81 ~ CIMB Securities
RM 2.82 ~ OSK Research

Mudajaya target price was downgraded by both CIMB Securities and OSK Research. The main reason ~ delays at Chhattisgarh. CIMB Securities lowers it by 7.3% from RM7.44 to RM6.88 (before ex-bonus) == RM5.95 to RM5.50 (ex-bonus), pegged to 20% RNAV discount. OSK Research downgraded it even further from RM5.48 to RM4.15 based on a 30% discount to SOP.

MUDAJYA past 2 months stock price

Mudajaya Target Price
RM 5.50 ~ CIMB Securities
RM 4.15 ~ OSK Research

With current uncertain economy situation, Mudajaya stock price is unlikely will go back to historical high at RM4.08 any time soon…

I stopped updating Stock Market Update since 1 July 2011. Why? I started these posts to study FKLI. But I found out that FBM KLCI does not actually follow other region stock markets like US, Europe or Asia. If US stock markets dropped, FBM KLCI does not follow the dropping trend too while most other region stock markets do. So no point to waste time to post it. And I don’t think other people would like to read it too. But it does have 1 good thing ~ it forces me to study the market everyday. Without posting it, I might not study at all…

Nope, I should not stop my study on FKLI here. And will look for other pointers that really can be counted that affect the up / down trend of FKLI. Hmm… Do you know any?

US Stock Market
Dow Jones (0.60%), S&P 500 (0.83%) and NASDAQ (0.41%). Greek austerity plan approved by 155 votes to 138 votes.

Malaysia Stock Market
FBM KLCI advanced 4.06 points to 1,579.07. Most markets up 1%.

FBM KLCI @ 30-06-2011