Today closed at $1.22 seem to have mark the bottom for HYFLUX .
Trend reversal may take place as the moving averages had cut into the candlestick about yesterday
You may want to establish and accumulate at this rock bottom price
As an industry, the water industry is good for long term investment. I need to take a closer look at Hyflux's financials. There are other good water shares in Singapore to get going with.
1. United Envirotech --- KKKR has pumped in US$113.8 million a few months ago via convertible bonds. It's a massive vote of confidence in the company.
This may work out poorly, though, if you remember that Bahrain-based Moya Holding injected S$20 million ($14.4 million) of equity into Dayen Environmental for a 51% stake. I think it's a flop.
2. Hankore (Bio-TReat) has a new controlling shareholder, Giant Delight, this year.
3. Sinomem Technology -- the fact that it was was taken private shows that investors are confident of better valuation inother markets, apart fr Singapore.
Half price! Hyflux closed at $1.07 --- about 50% lower compared to the start of 2011. Would have been worse if not for their share buyback, totalling 2.7 m shares. It's not small change, as it amounts to nearly S$3 million. Will it continue to support the stock price?
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