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ANZO Trades Higher Today, Limit Up ?

Reporting by writer BacalahMalaysia.my

 

ANZO Holdings Bhd, now a major supplier of copper scrap and glovemarker traded in high volume this morning on news that a new substantial shareholder has emerged in the company.

The stock opened 2.5 sen higher at trading time today at 9 a.m.

By 10.30 a.m., some 103 million shares were traded in the company.

There is a lot of talk in the market that the company has attracted a major global fund from China or Hong Kong.

While it is still unclear who is it, let’s take a look at some of the major funds in Hong Kong and China.

There is Pimco Total Return Fund, which is the world’s largest bond fund, Value Partners Classic Fund, which invests in Asia Pacific stocks with a focus on China equities, Schroder Asian Equity Yield that holds an array of Asian blue chips, Apollo Asia Fund, which specialises in Asian equities, and Aberdeen Global – Asia Pacific Equity Fund which focus rising Asia Pacific economies.

The investor or global fund, it seems, has been buying up shares in Anzo in the last couple of weeks but a check on Bursa doesn’t show who it is.

Anzo on the other hand is still quiet about it but last month the company did tell the stock exchange “The Board noted that there are some foreign investors acquired shares in the company.”

Anzo was replying to a query on a news report mentioning that “a foreign investor was eyeing a stake in Anzo and it may also come in to inject a new business.

What does Anzo mean in its reply? Well lets wait and see for another annoncement.

So what has Anzo done these pass few weeks?

Firstly it had secured a RM1.3 billion contract to supply copper scrap to a steel-making group in South Korea effective starting from July 1.

It will supply the products through a company called CSTME Resources Sdn Bhd, which interestingly, has recently also bought up to 12 per cent stake in Anzo.

Anzo also bought a medical glove manufacturing plant in Manjung, Perak for RM55 million.

The company bought the assets of Wintrade World Sdn Bhd including land and factory that has the capacity to produce up to 1.2 billion pieces of medical and nitrile gloves a year, believed to be worth about RM400 million.

Anzo’s plans in the future?

Well nobody knows for now but all I can say is that the company is expected to be profitable this year and onward with the new deals.

Lets wait and see when the company announces its full financial year results by September this year. – BACALAHMALAYSIA.MY

BacalahMalaysia Team

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