Bingo eventually exposed its portion of its return of Journey to the West. As of RMB 1 Bil. Ticket sales. Bingo will bag around RMB 70-80 Mils income as according to report. That still exclude income from its cinema chain that will start show result this year. We are disappointed the price has adjusted a lot downward by we still suggest a hold or buy if dip below HKD 0.150 call.
On the other hand, Teledata announced result that should sees them out from it monitor by SGX. However, cash flow is still weak and it has to seek further extension from SGX to be excluded from monitoring. We believe there is potential still a power struggle in the board and share holding. The successful Korean company take over or not will have a strong impact for its share price in coming months.
As such, we recommending hold but nibbling if Bingo below HKD 0.150 and Teledata below SGD 0.013