18 August 2017

M1 continues with a 2nd day of share buyback

M1 (B2F) continues with it's share buyback. The maximum number of shares authorised for purchase is 93,006,278  or 93 million shares.

Today, on 18 Aug 2017 they only bought back 400,500 shares price ranging from $1.77 to $1.795. A total of $716,973.36 was spent in buying back the 400,500 M1 shares.

Yesterday they bought back 3,000,000 shares from $1.74-1.78. Total $5,321,323.81
To date, they have bought back 3,400,500 shares.

Sheng Siong is being sold off due to fear

It is unfortunate that the local stock market has more young technical traders than investors. A lot of times, long time investors are taken for a ride due to traders speculating and spreading rumours about counters on online forums and WhatsApp.

Sheng Siong is one of the latest victims. The share price was around $1.00 before it started to drop on Amazon's entry into the Singapore market.

Although we see high business volume at Sheng Siong, Amazon has changed the landscape as they can deliver anywhere in Singapore within 2 to 4 hours for free. Sheng Siong, which has a lead by more than one year didn't anticipated that the buyer's behavior has changed and they still only deliver within the north eastern Singapore.

Sheng Siong has to counter this challenge. Amazon is not RedMart or smaller players but a big company that even the Trump dislikes as it has disrupted the retail business over there.

Amazon will also challenge other retail business soon once they expand the products carried locally. Some of these include Courts, Harvey Norman, Lazada, Qoo10.

FA or TA, this doesn't look too good for Sheng Siong for the short term.

17 August 2017

M1 begins share buyback of 3 million shares in open market to support share price

M1's share price has been shorted the most after it's strategic review didn't go through.

Today, M1 made an announcement that they are doing Share BuyBack. This is supportive of the share price and it is a bullish indicator.

I predict that M1 share price will move back to $2.00 or more. The company's initiative with NB-IoT will pay off. Secondly, TPG will have minimal impact on the telcos as the infrastructure isn't ready.

02 August 2017

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