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[RESINTC] What do you think about RESINTC?

Refer to the announcements dated 27 August 2010 and 8 October 2010 in relation to the Proposed Bonus Issue of 39,200,000 new ordinary shares of RM0.50 each in Resintech (“Bonus Shares”) to be credited as fully paid-up on the basis of two (2) new Bonus Shares for every five (5) existing ordinary shares of RM0.50 each in Resintech held on an entitlement date to be determined and announced later (“Proposed Bonus Issue”).On behalf of the Board of Directors of Resintech, MIMB Investment Bank Berhad wishes to announce that the Company had on 9 December 2010 received the approval from Bursa Malaysia Securities Berhad for the listing of and quotation for the 39,200,000 Bonus Shares to be issued pursuant to the Proposed Bonus Issue.


The proposed bonus looks good. What do you think?
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Not sure about how it would affect the fundamentals though price action appears to suggest the market likes the development where prices have made some good gains which slight increases of volume, bollinger band appears to be expanding after the recent price consolidation and MACD has a bullish crossover as well.. may be possible to retest its recent high of 0.735 if technically speaking.. caveat emptor.. just my 2 cents worth..
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