This article first appeared in The Edge Financial Daily on January 24, 2018

Goldis Bhd (-ve)
SHARES in Goldis Bhd (fundamental: 1.4/3, valuation: 1.4/3) triggered our stocks with momentum algorithm yesterday for the second time this year. The counter closed up 25 sen or 7.99% at RM3.38 yesterday, with a market capitalisation of RM2.06 billion, with 494,600 shares traded, higher than its 200-day average volume of 31,926.5 shares.

Goldis is an investment company with private equity investments in Malaysia and China, with a substantial stake in IGB Corp Bhd.

Earlier this month, it said it aimed to complete its takeover of IGB Corp in early March, with the latter’s shares to be delisted from the Main Market of Bursa Malaysia within the same month.

Goldis said the High Court had granted an order sanctioning the proposed takeover exercise, which will see the group taking over the listing status of IGB Corp, but renamed to Ipoh Goldis Bersatu Bhd.

As at market close yesterday, Goldis’ shares were trading at 0.77 times its net book value.