A bad week

Global stock market dropped dramatically in last week. It all began with the slump in Shanghai market. It hit other countries' market badly, which included our local market, Bursa Malaysia.
This has caused the strategy to buy-in before the quarterly announcements did not work. Maybank, CIMB and Maxis announced very impressive results. However, due to weak market sentiment, the stock prices did not move up. Instead, they dropped which were in line with the market trend.
However, I am still very confident with quality property stocks. I bought in Sunrise Bhd when I discovered a great opportunity where heavy selling has pushed the price down to RM1.80 on Friday morning. Sunrise is the main develop for Mont Kiara, Kuala Lumpur. With the possibilty of elimination of capital gain tax on properties, it may push property stocks to a higher level(as if the market recovers or at least no more sudden drop).
There is no surprise from Mahsing's quarterly announcement. No higher dividend is proposed. I believe this is driven by the on-going projects which need huge sum of capital. Personally, I am looking for The Icon from them. Anyway, I am in a loss position at the moment. However, I am still holding it as I believe the management team will bring Mahsing to a higher level. I am waiting for the oppurtunity (like what happened to Sunrise) to accumulate more. Proposal of bonus issue (1 for 4) and share split (from RM1 to RM0.50) should be completeted in 1H of 2007. If I remember correctly, Mahsing's CEO mentioned that it will by April'07.