Yongnam Holdings Ltd

Another big fish invited to lim kopi at CAD!
Will the CEO's case bring down the stock price tomorrow?

Minus 2 cents = 24 cents. CEO going to be weighed down by CAD probe. But is it business as usual in the company?

Happened to look thru Yongnam's announcements for Jan-June 2009, the period which CAD is investigating.

There was a 35,642,000 share purchase by the CEO on March 13 from the open market. This was a big 2.92 % stake which raised his direct holding to 5.67 %. He has another 5% + in deemed holding.

The 35.6 million share purchase was at 7.66 cents, and now the stock is a 3-bagger at 24.5 cents!

Wonder why it took so long for the whistle blower or kaypoh or rumour monger to talk to CAD./

A simple technical analysis suggests that smart money is accumulating shares of Yongnam.

Read this (good or goondu?) post by AK71: singaporeanstocksinvestor.blogspot.com/2...is-accumulating.html

Yikes, forgot about this stock and didnt accumulate. This morning, announced :

YONGNAM DELIVERS SIXTH CONSECUTIVE YEAR OF RECORD EARNINGS WITH NET PROFIT UP 16.5% TO S$63.4 MILLION

- Gross profit margin improves from 28.6% in FY2010 to 31.1% in FY2011

- Order book remains strong at S$462.0 million as at 31 December 2011

- Declares final dividend of 1.0 (FY2010: 0.65) Singapore cent per ordinary share

Didn't move yesterday, so still got chance to accumulate at 25.5 - 26 cents. Anyone?