Stock With Momentum: Ideal United Bintang International

This article first appeared in The Edge Financial Daily, on July 3, 2018.
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Ideal United Bintang International Bhd (-ve)

Trading of the shares in Ideal United Bintang International Bhd (fundamental: 2.1, valuation: 1.5), has triggered our momentum algorithm yesterday for the fifth time this year.

The stock rose six sen or 5.71% to RM1.11, after 836,600 shares were traded, compared with its 200-day average volume of 32,774 shares.

Its group executive chairman Tan Sri Ooi Kee Liang and his wife Puan Sri Phor Li Wei are currently in a takeover bid to acquire a 54.06% stake in Ideal via their investment vehicle ICT Innotech

Sdn Bhd.

At the current share price, Ideal United Bintang International has a market capitalisation of RM122.62 million. In the past 12 months, the stock has climbed some 42%.