KL Composite Index Might Going For Correction ?

Watch out for the overall market today. It might turn to Bearish note. The momentum for the overall share market in KL Composite Index are decreasing. It is not a right time to long any of the shares at these moments. The Bears that I have mention will be out anytime from now. Who knows ? I think the bears are going to take over the bulls.

Based on my chart calculation the D-Day will be today or the next day. This is just one of my opinion and it solely based on my research. This cannot be consider as it will be right. (Still stick with my decision few days ago - read HERE).

Sorry about the date of resumption of trading for Ramunia. Ramunia resumption of trading will be this morning Friday. Watch closely whether the share price of Ramunia will go up or go down ? If the prices go down then it will be very bad for the KL Composite Index and overall speculation counters. Sit tight, we might be seeing some special show from Ramunia Holdings Berhad today.

Announcement form Bursa Malaysia Website.

RAMUNIA HOLDINGS BERHAD (“RAMUNIA” or “the Company”)- Receipt of Offer

We refer to the announcement made on 4 May 2009 wherein the Company received an offer letter from Sime Darby Engineering Sdn Bhd (“SDE”), an indirect wholly-owned subsidiary of Sime Darby Berhad, to acquire the business and undertaking (including the assets and liabilities, whether in whole or in part, to be determined following a due diligence inquiry) of Ramunia and its subsidiaries (“Offer”) for a total provisional purchase consideration of RM232.0 million, subject to adjustment under the terms of the Offer.

The Board of Directors of Ramunia (“Board”) wishes to announce that the Board has on even date ACCEPTED the Offer subject to the execution of a definitive sale and purchase agreement (“SPA”), which shall contain the terms and conditions to be mutually agreed between Ramunia and SDE. The SPA is to be executed on or before 21 May 2009 (or such other period as mutually agreed in writing by SDE and Ramunia). A further announcement will be made setting out the salient terms upon the execution of the SPA.

This announcement is dated 7 May 2009.