Its puzzling us for quite sometime already why this happens. I give you several example, ECONBHD announced they got a contract from AZRB worth MYR66mil for road repair & reinforcement in Genting Highland. ECONBHD is a loss making company for consecutive quarters for several years now. ECONBHD stops giving payout/dividend. And yet, ECONBHD share price gone up today. Knowing ECONBHD has cost control problem, nobody shortsell!! Zero!!

EKOVEST is another thing. EKOVEST is a cash strapped company. They have MTNs; unlike bank loans, MTNs have maturity date. Their MTNs value is about 5/7 of their Total Asset. EKOVEST and IWCITY in a spot light a few days ago, where local news highlight that EKOVEST & IWCITY has projects in Johor with GDV of MYR10bil for 10 years to come. Suddenly, ppl jumped and SHORT!!!! They knew EKOVEST & IWCITY will go under in 10 years time.

While Hibiscs, with strong financial background, prudent spending, excellent in technical operations and an international small Malaysian outfit; plus good sentiment lately, with OPEC extending their production cuts, US banned LNG export and also is considering prohibiting the selling of their US Strategy Reserves to CHINA & with no US Fed interest rates hike in near future should drive Hibiscs share price upward. And yet, licensed brokers shortsell almost everyday. There is 2.5mil net short shares still open as at 5th Mac. And today, there are around 255,000++ adding to that amount!!

And last January, Hibiscus awarded 5-year contract to UZMA for the supply of chemicals and related services to the PM3 offshore fields over a five-year period between Nov 16, 2023 and Nov 15, 2028.
This means Hibiscs 35% owned PM3CAA is set to go full swing and will add more income to Hibiscs.

For locals & retail traders, I don't recommend you go for long on Hibiscs.