Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on October 18, 2018

Nextgreen Global Bhd (+ve)
TRADING of shares in Nextgreen Global Bhd (fundamental: 0.8/3, valuation 0.3/3) triggered our momentum algorithm yesterday for the third time this year.

The stock closed 2.5 sen or 5.05% lower at 47 sen, with 27.18 million shares done versus its 200-day average volume of 1.74 million shares. The counter was also one of the top active stocks on Bursa Malaysia yesterday.

On Tuesday, Nextgreen announced that it had accepted a RM400 million investment from Asia Capital Investment Fund (ACIF) to finance Nextgreen’s Green Technology Park projects in Malaysia.

Nextgreen said ACIF’s RM400 million investment comprises a subscription of 280 million new cumulative redeemable preference shares in Nextgreen at RM1 each, and a RM120 million loan.

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