By: Derek Lim

PSC closed at $0.455 today. Pretty disappointing if you consider that the last price before consolidation was $0.12. Hence after a 5:1 consolidation, I’m expecting about $0.60. Even if it is calculated base on $0.10 per share (figure used by PSC to calculate the rights issue price), I should still expect at least $0.50. However, I half expected that it will happen because trading on its share prior to its consolidation and rights has been low.

All is not lost though. Interestingly, Super Coffeemix has become a substantial share holder by purchasing shares through Goi Seng Hui. Super Coffee Mix and Goi Seng Hui are still increasing their stakes in PSC through open market purchase. It’s not hard to guess the direction where PSC is going given the strong China roots of both Goi Seng Hui and Super Coffemix.

I’m waiting eagerly for PSC rights circular – I’m optimistic that its major shareholders including Super Coffeemix and Goi Seng Hui will exercise their rights fully which also means that the outlook for PSC is bright.