KUALA LUMPUR, July 9 (Bernama) -- Bursa Malaysia closed lower on Thursday as renewed geopolitical tensions in West Asia weighed on investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.97 points, or 0.36 per cent, to 1,677.64 from Wednesday's close of 1,683.61. The benchmark index opened 2.62 points lower at 1,680.99, and moved between 1,676.18 and 1,683.80 throughout the session. However, market breadth was slightly positive, with gainers leading losers 533 to 504, while 547 counters were unchanged, 1,112 untraded, and 12 suspended. Turnover slipped to 2.64 billion units valued at RM2.19 billion from 2.96 billion units valued at RM2.18 billion on Wednesday.
Versatile
Creative Bhd (-ve)
SHARES
in Versatile Creative Bhd (fundamental: 0/3, valuation: 0.55/3), which
triggered our momentum algorithm yesterday, slipped one sen or 0.76% to RM1.31
after 2.61 million shares were done; in contrast, its 200-day average volume
was only 445,508.5 shares.
In
May, the loss-making company secured a contract to build a halal vaccine plant
along with a pharmaceutical plant and research centre in Bandar Enstek
Industrial Park, Negeri Sembilan, for US$69.3 million.
The
contract was awarded by Oriental Mace Sdn Bhd, which is part of Oriental Mace
Group that is led by Professor Dr Wong Kong Yew as chief executive officer.
On
Aug 29, it was revealed that Wong had inked an agreement with Versatile
executive chairman Datuk Lee Kwee Hiang to buy the latter’s 18.33% stake in
Versatile at RM17.21 million or 80 sen per share.
Versatile
is trading at 3.72 times its net book value. No dividends were paid out for the
financial year ended March 31, 2016.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-versatile-creative-0
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