Masterskill fell to lowest 1.80 today.

Masterskill fell to its lowest of RM1.80 in afternoon today 16 Feb 2011, and daily volume today increased to 5.448 million shares from 1.595 million a day before. MEGB was not surprisingly under selling presure in today trading, in view of Small cap & Fidelity's recent disposal.

As at 9 Feb 2011, Fidelity's shareholding is 5.02% or 20.6 million shares (as announced on Bursa Malaysia on 16 Feb 2011).  During 10, 11, 14, and 16 Feb, I guess that Fidelity would had already disposed another 2 million shares at least, equavalent to 0.05%. if this is the case, Fidelity should be now no longer as a signficant shareholers. In conjuction with this, Datuk Seri Santhara Kumar A/L Ramanaidu, Group CEO, indicates his intention to deal in the share of MEGB (as per today's announcement), he is likely to go for buy intention rather than sell intention, more likely he would has to buy when Fidelity selling the balance of its stake. Conversely, if CEO is to sell off its existing shareholding of 22.1%, MEGB will be collasped seriously, but I don't believe this is the case.

Whether this is the time to go in for more, I remain coutious in buying more, but i will hold it and see what is really happening. I will only go in when it appears to me that Fidelity has fully disposal off, and I estimate that would be sometime around mid March 2011. Hopefully, CEO has enough fund to maintain the price while selling by foriegn equity fund shareholder.

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Published on http://www.theedgedaily.com/

Wednesday, 16 February 2011 14:59 Wednesday, 16 February 2011 14:59

Title : Masterskill falls to lowest since listing

Written by Joseph Chin of theedgemalaysia.com

KUALA LUMPUR: Shares of education services provider Masterskill Education Group Bhd fell to its lowest in late afternoon trade on Wednesday, Feb 16 to RM1.83.
At 2.40pm, it was down 13 sen to RM1.83 with 3.73 million shares done.
The FBM KLCI fell 2.68 points to 1,5022.65. Turnover was 1.10 billion shares valued at RM1.02 billion. There were 275 gainers, 468 losers and 260 stocks unchanged.
The company announced on Monday, that FMR LLC & FIL Ltd disposed of 350,000 shares on Feb 7 and 8 and reduced its stake to 5.09% or 20.87 million shares.
Meanwhile, Masterskill announced on Wednesday that its executive director and group chief executive officer Datuk Seri Santhara Kumar A/L Ramanaidu, who owns 22.1% stake, intends to deal in the shares during closed period.