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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Stocks with momentum: Versatile Creative Bhd

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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