Education counters continued their winning streak yesterday with two stocks — HELP International Corp Bhd and Masterskill Education Group Bhd — hitting record highs amid a better performing market.
HELP outshone yesterday’s list of gainers. The stock hit an all-time high of RM4.80 in intra-day trading, before closing at RM4.54, up 49 sen or 12% from the previous day. This brings its market capitalisation to RM403.04 million. The stock has gained 136.5% year to date.
HELP is a darling among analysts with four buy calls. On Monday, the company had proposed a three-for-five bonus issue. Its share price had surged 29 sen to RM4.05 on Monday, ahead of the announcement.
SEG International Bhd (SEGi) added 21 sen or 10% to RM2.39. It had earlier hit an intra-day high of RM2.45, the highest since April 1997.
Meanwhile, Masterskill climbed to a record high of RM4.14 during the day. The stock settled at RM4.10, up 10 sen or 2.5%, still the highest close since its listing on May 18.
Education players have been known to be defensive players due to strong demand for quality tertiary education not only from locals but also foreigners as Malaysia becomes an increasingly important education hub for the region. Investor interest picked up substantially in the middle of this year, following the listing of Masterskill, which provided a re-rating catalyst for the sector.
This article appeared in The Edge Financial Daily, July 21, 2010.
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