Kenmark's share price movement going forward?..

Well, I have seen this company day in and day out back when I was young and little did I expect that the company would be facing such issues since it is an old company and has been around for quite a while now.... While the company directors try to apply for an extension to the 4th quarterly results, it serves as a question mark to many whether there is going to be another case of accounting issue due to unrevealed financial difficulty or there is a conspiracy behind all the missing in action of the company's top management.

Emergence of Datuk Ishak Ismail who swooped up a wopping 21.41% stake in the company just when the share price hit a all time low is interesting and confusing at the same time.

My take: If indeed the company has financial difficulty to sustain the business operations, the workers would not have been paid their salary at the early month of May 2010. Also Datuk Ishak's emergence does not make sense from financial stand point to throw money into a company that is bound to wound up because of accounting fraud even though the amount spent may be relatively unsubstantial for a him. I quite sure there is a twist to the whole thing Ishak may just be a predator who strike at the "right time"... :p

Also I believe the company will announce the resumption of operation next week as there is basically no critical default as claimed by Kenmark's directors yesterday on the payment to EBB.
Having said that, I would stake a bet that from the data and information shared to me, unless I was fed with wrong information, the stock price are likely to further regain its loss next week.

At the point of writing this, the US market is trading sharply lower and the Euro breaking below the $1.20 level against the dollar (expected to even hit $1.15 in due time), I think this whole market environment is going to put Kenmark's share in focus and provided the new directors deliver the promised to get the financial report straighten and resume operation, things are expected to get better for the stock price.

Have a nice 3-day weekend.