Any Technical Rebound for Axis Incorporation Berhad ?

Crude Palm Oil prices tumble again in the afternoon session. When the market open in the afternoon the CPO prices jump to a new low RM-190.00 per tonne at RM 2,700.00 before closing for the day at RM 2,750.00 per tonne. What a day, it was a real roller coaster ride for the trader at CPO futures.

This is how our share market will react to the current Crude Palm Oil prices. In this kind of situation, anyone who are still holding their shares in Bursa Malaysia would like dispose it out. The whole market sentiment seem to be pointing to the south. Anyone who is not strong enough would be easily wiped out from the market.

Today I will be posting one of the interesting charts that tumbles until now without gaining any gain. It is all because of a dispute amount in Submission of the Audited Financial Statments for the financial year ended 31 March 2008.

Why this kind of thing happen to our share market. Where is our accountability in our system. From as high as RM 2.00 per share (11.07.08) to a low of RM 0.26 per share (05.08.08).

Axis Incorporation Berhad is a Malaysia-based investment holding company. The Company's wholly owned subsidiaries include Asiapin Sdn. Bhd., which is engaged in fabric knitting and dyeing; Chongee Enterprise Sdn. Bhd., which is engaged in manufacturing of garments, and GBC Marketing Pte. Ltd., which is engaged in the trading of textiles.

In June 2008, the Company announced the disposal of the entire equity interest in Ganad Corporation Bhd. Anyone out there who would dare to try to catch a falling sharp knife will eventually make some pocket money. DARE TO TRY ?

Axis Issued and Paid-Up Capital : RM 152,906,719.00

Class of Shares : Ordinary Shares of RM 1.00 each