As DEAD. Ng Ah Chai made a mandatory general offer for Meico at 90 sen a share.
The stock now trades at RM1.03, though volume so far is not convincing enough, for Meico to retest the RM1.40 level now.
That could however change in December though, if the dollar keeps firm, and the spring cleaning takes place as planned.
I like Meico, but this no contra stock...as Meico's real potential might only be realised in 2017.
SYF Resources should be a good proxy if one feels Meico is to expensive in absolute terms, because in Ng Ah Chai, both firms boast the same common dominant shareholder.
