ASIAEP BHD (0039)

AsiaEP current price looks very attractive to either speculators or investors - with closing price of RM0.82 last Friday (16 March).
It did not catch my attention until a foreign investor - Goldman Sachs bought a stake of 5%+ into AsiaEP. I just simply ignored it even though I read the research report from Kenanga Investment Bank with a target price of RM0.99.
Now, I have bought AsiaEP in dip a few days ago due to the believe of 'Goldman effect'. The purchase price of Goldman (which was during the market price) should be around RM0.60++. This purchase price should be a very support for AsiaEP stock price. Looking at the impressive track record of Goldman in investing in Bursa Malaysia, I believe AsiaEP has the potential to cross RM1.00 in the near term, provided the market is stable with no major decrease. Goldman has invested in E&O and Stemlife. Both of them give Goldman at least RM1 unrealised gain at this moment. As a result, RM1.50 is my target price for AsiaEP in the near term.

Notes: Kenanga has issued another research report with target price of RM1.97 a few weeks ago (although it was only published in Star paper on Saturday).