KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 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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