BINACOM - WILL STARLINK JV WITH BINACOM ?
Anwar said that during the meeting they discussed the participation of Musk’s rocket and spacecraft company SpaceX in offering its Starlink satellite service.
Musk also agreed to collaborate with the government, involving his company, SpaceX, the satellite internet service Starlink, and electric vehicles (EVs). “In fact, three Malaysian companies will also be involved in the project with SpaceX.
https://theedgemalaysia.com/node/674847
WHICH COMPANY WILL BE INVOLVED IN THE PROJECT WITH SPACEX ???
Based on company's business nature listing in BURSA Malaysia, BINASAT COMMUNICATIONS BERHAD (0195) has high potential to be selected as company to co-operate with SpaceX.
1. Gov agreed to collaborate with Starlink to provide affordable direct internet access to rural areas, schools and universities. BINACOM provides VSAT systems provide high speed, broadband satellite communications for Internet or private network communications.
https://www.binacom.com.my/Satellite-Communication/
2. Besides, BINACOM has won contracts to set up 275 satellite facilities for Kelantan and Pahang’s local state councils to roll out satellite Internet broadband services to underserved areas.
3. Moreover, BINACOM also involved in SOLAR business which not much people notice it. BINACOM has secured an RM18.36 million subcontract work to build a large scale solar photovoltaic facility in Selangor for Fabulous Sunview Sdn Bhd, a wholly-owned unit of newly-listed Sunview Group Bhd. Binasat said its 51%-owned unit Borderless Connection Sdn Bhd is tasked to undertake engineering works, equipment supply, civil construction, installation works, testing and commissioning works for the facility.
https://theedgemalaysia.com/node/652130
TA VIEWS:
EP: RM 0.26 - 0.265
SP: RM 0.25
RST: RM 0.28
TP: RM 0.305 / 0.325
a) Trend: Short term uptrend, long term sideway
b) Cross above MA5,10,20,50 & 200
c) ADX, RSI and Stoschastic pointing up
d) MACD cross up but below 0 central line
e) Potential "Cup and Handle" shape pattern
Potential Return if bought at RM 0.265:
TP 1: RM 0.305 = 15%
TP 2: RM 0.325 = 22.6%
Broker houses Target price:
UOBKH Retail Market Monitor 14 July 2023
BINACOM (KLSE: 0195)
Technical BUY with +34.0% potential return
* Last: RM0.265 TP: RM0.315, RM0.355 SL: RM0.225
* Timeframe: 2 weeks to 2 months
* Shariah: YES
Other references:
https://theedgemalaysia.com/node/650758
https://www.binacom.com.my/home/
Disclaimer : The above opinion is never intended to be a BUY SELL CALL. The above article purely for education purpose base on observations, chart and data. Thank you.
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