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Hot Stock Sanichi surges 18.75% on MoU with German firm

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Hot Stock Sanichi surges 18.75% on MoU with German firm

Post by Cals Thu 10 Dec 2015, 21:53

Hot Stock

[size=28]Sanichi surges 18.75% on MoU with German firm

By Surin Murugiah / theedgemarkets.com | December 10, 2015 : 9:46 AM MYT

KUALA LUMPUR (Dec 10): Sanichi Technology Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 1.50) shares surged 18.75% in early trade today after Sanichi yesterday signed a memorandum of understanding (MoU) with German firm Protev International GmbH to form a joint venture (JV) in providing a one-stop product and service centre to all its customers worldwide in the manufacturing of plastic injection moulds and tools.

At 9.26am, Sanichi rose 1.5 sen to 9.5 sen with 22.24 million shares traded.

The company revealed that both parties intend to form a JV company called Sanichi Protev Sdn Bhd, in which Sanichi will hold a 51% stake and Protev, the remaining 49%.

Sanichi shall be responsible for the product design and production activities; whereas Protev, which is an innovator in mould injection-tooling consulting, shall be responsible for the marketing and product distribution in the JV company

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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