CIMB upgraded Kawan to RM 3.65 with reason as good proxy for investor in food industry. Another news that it’s management is considering plan to venture into intant food market which has a huge potential.
Both news drive it’s share further to RM 2.60. We think the volume is not just retail market player but a beutiful plan exercise. We will still hold on to our target of RM 3.00 but we have disposed 50% of our holding on warrant. We will continue to dispose warrant when price moving upwards. We will exchange it to our top 5 + 1 top list of 2nd quarter of 2015.