With no major movement in price, trading volume of the last trading day is higher than the average volume over the past 50 days. At 0.145, the stock is trading near its 3-month historical high. It is also observed that the MacD line is below the signal line indicating some short-term price weakness.
Company Information
Background
The history of the Group dates back to 1979 when G&W Ready-Mix Pte Ltd was set up chiefly to handle the manufacture of ready-mix concrete. In 1983, G&W Ready-Mix diversified into the manufacturing of precast concrete products in order to complement its ready-mix concrete business. In the initial years, G&W Ready-Mix produced hollow and solid blocks for supply to HDB. In 1983, it expanded into the equipment rental and sales business. In 1986, it further expanded into producing other precast concrete products such as interlocking paving blocks. With the growth of the Group' equipment rental and sale business, G&W Industries was formed and in 1992 undertook these operations from G&W Ready-Mix. G&W Concrete was formed in 1994 to take over the precast concrete products operations from G&W Ready-Mix.
As part of the Group' regionalisation efforts, the Group incorporated Watson Construction in China in 1985 to manufacture construction materials. This was followed by the incorporation of G&W Beijing and G&W Shenyang in 1993 and 1994 respectively, both of which are involved in the manufacture of building materials and the rental of construction equipment. In 1995, the Group expanded into the manufacture of building materials and the rental of construction equipment in Indonesia. In 1997, the Group expanded into Malaysia.
The Company was incorporated on 24 January 1997 as an investment holding company under the name of G&W Group (Hldgs) Pte Ltd. On 18 July 1997, the Company was converted into a public limited company and changed its name to G&W Group (Hldgs) Ltd. The principal activities of the Group are in the manufacture and sale of ready-mix concrete and precast concrete products, and the rental and sale of construction equipment.
In 2004, the Company formed a joint venture company with Ngee Ann Polytechnic to manage and operate an overseas education centre in China.
Financial Sheets
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Market Outlook
Straits Times Index (STI)
Trend: Consolidation with a potential bullish breakout bias
The benchmark STI remains sandwiched between the 20 and 50-day moving averages. Interestingly, a possible bullish crossover signal was spotted in the MACD trend indicator, which suggests a potential change in the trend. In addition, upside momentum is also building up as the Stochastic oscillator continues to inch upwards. In order to see a follow-through, the STI needs to break above the immediate resistance at 2952 to see a potential upside push towards 3043 next. On the other hand, a violation below the immediate support at 2910 may negate the potential bullish tone to see a slide towards the rising window gap support of 2886-2875.
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Malaysian Resources Corporation Berhad
