Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, January 20, 2010

Baswell secures US$100m contract

BASWELL Resources Bhd has secured a US$100 million sub-contract to manufacture and install furniture and fittings at the Al Reem Island.

In a note to Bursa Malaysia today, the company said it has entered into a memorandum of understanding with Hong Kong's Metroplex Resources Ltd to collaborate with the Al-Amry Group on the Al Reem Island mixed development.

Al Reem Island is a residential, commercial and business project to be built on the natural island of Al Reem Isle, located off the northeastern coast of Abu Dhabi city.

The company added that the MOU would remain in effect for two years and could contribute postively to Baswell's future earnings.


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