KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day. In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended. Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion. ...
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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