Tuesday, April 20, 2010
General Corporation Bhd
GCORP today broke the resistance 1.43 on increasing volume to close at 1.47. Next resistance would be 2.00. Buy on the pullback. Background which I actually don't care - GCORP was incorporated on 29 May 1969 under the name General Ceramic Sendirian Berhad. In January 1971, the Company was listed on the then Main Board of the Kuala Lumpur Stock Exchange in 1981.From incorporation in 1969 to 1981, GCORP was a manufacturer of ceramic wall tiles. In the 1980s, GCORP went through a diversification programme with the acquisition of property development, construction and motorcycle tyres manufacturing companies. In 1991, to complement its property development and construction businesses, GCORP acquired a quarry in Masai, Johore. The manufacturing of motorcycles tyres and tubes were however, discontinued in 2005 and currently these products are imported from the Asean countries for distribution in Malaysia under the Fung Keong brand. In 1990, GCORP acquired Low Keng Huat (Singapore) Limited (LKHS). LKHS was listed on the Main Board of the Singapore Stock Exchange in 1992 and is currently 52% owned by GCB. In LKHS, the GCB Group has ventured into property development, construction, hotel/restaurant ownership/management in Singapore, Australia and Vietnam. The principal businesses of the GCORP thus comprise investment holding, property development, property investment, construction, trading, quarry and hotels operating in Malaysia, Singapore, Australian and Vietnam.