Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on February 20, 2018

Pansar Bhd (-ve)

SHARES in Pansar Bhd (fundamental: 1.45/3, valuation: 0.8/3) triggered our momentum algorithm yesterday for the seventh time since this year.

The stock price increased one sen or 1.27% higher at 80 sen after some 7.15 million shares changed hands, versus its 200-day average trading volume of 372,605.

Pansar was slapped with an unusual market activity (UMA) query by Bursa Malaysia last Thursday, following the sharp rise in its share price.

In response to the UMA query, Pansar said it is not aware of reasons for active trading of its shares, other than it is in the stage of formalising “some contracts”.

However, the hardware and building products supplier explained that it is currently in the stage of bidding, discussing, negotiating and evaluating some contracts which the company has yet to receive the letter of award.

Pansar trades at 1.33 times its net book value.

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