MEGB met resistance at RM1.83

MEGB can't fly today due to resistance at RM1.83. It is unknown whether it was the doing of it's 2 previous investor (FMR LLC and Smallcap World Fund Inc), as both of them had ceased to be major shareholder (investor don't need to report buy/sell of company share once their shareholding falls below 5% of total company shares).

Anyhow, there seems to be a good news (which won't affect the earnings of MEGB): MEGB had entered into an agreement with Kinta Medical Centre Sdn Bhd (KMC) for both parties to jointly collaborate on academic research and development in physiotherapy with technical assistance from KMC at a centre to be named Masterskill-KMC Physiotherapy Centre to be set up by Masterskill in Kinta Medical Centre owned by KMC, to engage in the following with operational costs and expenses incurred by the Masterskill-KMC Physiotherapy Centre to be borne by KMC and any profit received by Masterskill-KMC Physiotherapy Centre shall be distributed equally between Masterskill and KMC for a period of five (5) years commencing from 25 March 2011:-

1. providing the physiotherapy education and training programme (“Education”);
2. research and development activities;
3. providing physiotherapy services to the public and to accept Masterskill’s students for clinical attachment purpose; and
4. such other business, purpose or activity as is necessary or convenient to the conduct, promotion or attainment of the clauses (1) and (2) above.

I am still holding MEGB shares (with 3.4% profit at RM1.83), and I shall decide within this week on whether to swap with another potential stock to take a quick profit, or wait, as the current resistant seems to be the doing of FMR and Smallcap.