not vested
On stock selection, HTPADU (Not-rated, RM1.04) could attract buying interests after MYEG (Not-rated, RM1.52) received a three-year extension from the Government to provide the foreign worker temporary employment pass online renewal service worth an estimated RM208m.
To recap, Asia Internet Holdings (owned by MYEG co-founder Wong Thean Soon and Chairman Datuk Noraesah Mohamad) held a 10.4% stake in HTPADU.
According to the Edge Malaysia (22-28 June), MYEG-HTPADU-S5 consortium is the frontrunner for the multi-billion ringgit National Integrated Immigration System (NIIS) project.
Technically, HTPADU is expected to stage a downtrend line breakout near RM1.08 to advance further towards RM1.18-1.24 in the short to medium term.
Supports are RM0.97-1.00. Cut loss at RM0.955.
Source: HLIB