Boustead Singapore

[Musicwhiz]

OMH gapped up at opening (49) this morning in ASX trade. Now trading comfortably above 50 at 51.

OMH jumped 25% since y'day after releasing its 1Q2012 market update. This time round, Boustead really looks good even though may be early days in its small but strategic 8% stake.

Perhaps people are getting a little over-exuberant. After all, there is no evidence of an improvement yet in OMH's results. I would think the share price would probably settle down at a level lower than AUD 50 cents.