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, December 7, 2011

Maxcorp boss seeks to take over Wijaya

The low-profile Anuar Adam, who helms privately-held Maxcorp Group, aims to buy out Datuk Tiong King Sing’s interest in Wijaya at about RM1.10 per share.

Kuala Lumpur: Former army Major (rtd) Anuar Adam is gunning for control of Wijaya Baru Global Bhd.

Anuar is understood to be backed by a group of powerful Indonesian businessmen.

The low-profile Adam, who helms privately-held Maxcorp Group of companies, aims to buy out Datuk Tiong King Sing in a deal that values the Sarawakian tycoon’s interest in Wijaya at about RM1.10 per share.

Wijaya’s mother share closed 4.5 sen higher at 80.5 sen, while the warrants ended the trading day 9.5 sen higher at 33 sen.

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