We disposed another 20% of our Gpacket at RM 0.625 in average and left 40% of our original holding in total.
On the other hand, we switched to Kawan and its warrant today. But we faced tremendous buying disturbance from some big players. But base on our calculation of PE 15 times of Kawan. We think Kawan worth more than RM 2.10 before even its future halal plant contribution.
As for its warrant with a conversion price at RM 1.400. if base on our target of RM 2.10 and the warrant should worth 4 times from current value at least. We will continue to increase our holding and even convert its warrant if the market is in bad mood in 2016.