MBF had been in the monitoring of Bursa Malaysia because of it's public spread, and till date, MBF had not been able to regularize and comply to the listing status of the Bursa Malaysia and with around 10% circulating in the public, what can happen to MBF, with NTA standing at RM 1.70 range?
Looking at the going on of the share price, I would believe that the majority shareholder are buying time after time in order to retrieve back the share of MBF through open market at the lowest price possible, which will definitely include the warrants as well as news of privatization of MBF continue to heighten up.
The previous action by the director in pushing the price of the warrant down after accumulating massive number of mother shares in the public and disposing huge amount of the warrant will definitely something that we as a public will like to look into it. As the director had been disposing the warrant harshly until at a point of time it reaches 7.5 cents in the end of May 2012 as a method in pushing the price down to psychologically affect the mentality of the public in disposing at cheaper price, now it will be a good time to see prices of the warrant in high flying mode should the privatization will be at a conservative range of RM 1.50.
Bone's short term TP: RM 1.35
Cheers and have a nice day.