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February 26, 2018

Share price stability proves fruitful for FMI

Visitors are seen outside the Yangon Stock Exchange.
Visitors are seen outside the Yangon Stock Exchange.

FMI shares have appreciated despite three low days between July 4-6, share prices are stable at Ks21,000, according to a financial statement released by the Yangon Stock Exchange (YSX).
FMI shares declined by K5,000, below their entry level price on 4 July during which 7,177 of the Ks21,000 shares were traded. The following day saw the number of shares traded drop to just 2,340 before picking up to 6,750 being traded on 6 July, equating to over Ks259 million worth of shares being bought and sold over a three day period.
“I think most of it is to do with data people get unreasonably worried and sell off their shares. There are few people that purchase stocks by properly analysing the YSX. Prices fluctuate as people follow the actions of the rest in selling off their shares,” said Dr Aung Thura, CEO of Thura Swiss.
Shareholders of FMI and Myanmar Thilawa SEZ Holdings Public Limited (MTSH) announced the dividends shareholders are to receive this 2016-17 FY, of Ks135 and Ks2,500 per share respectively. The value of FMI shares made a continued decline.
“A company is good whether it splits a lot of dividends or a few.” added Dr Aung Thura. “It can’t be said it’s a negative thing, famous companies hardly split dividends, with the aim of expanding their company. But, that’s what some investors in Myanmar base consideration on, so assumptions are a little bit skewed.”
Shares in YSX had fallen by Ks1,000 to Ks49,000 each, by the end of trading on the YSX on 6 July, with 2,556 being bought and sold.
“I’m holding on to my shares in FMI I don’t yet have a plan to sell, I believe the price will recover,” said U Thein Aung, a shareholder.


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