GMutual: Strong resistance at rm0.55 of which a successful breakout would the stock price targeting rm0.74 resistance. Support is at rm0.49 and rm0.46.
Gromutual Bhd, a Johor-based property developer, aims to launch projects with a gross development value (GDV) of RM700 million in the next few years from 2013 in Johor Baharu.
It plans is to further tap into opportunities in the vibrant property market of the Iskandar Malaysia region.
To date, Gromutual has completed RM600 million in residential and commercial properties in Johor and Melaka, since its incorporation in 2003.
It is undertaking residential and commercial property projects with RM376 million GDV in Melaka and Johor.
Gromutual has also invested RM45 million in land acquisition over the past two years (2012-2013).