This article first appeared in The Edge Financial Daily on February 14, 2018

Pansar Bhd (+ve)
SHARES in Pansar Bhd (fundamental: 1.45/3, valuation: 0.8/3), which triggered our momentum algorithm yesterday for the fourth time this year, closed 4.5 sen or 6.47% higher at 74 sen.

It saw 9.15 million shares exchanged, sharply higher compared with its 200-day average volume of 290,631 shares.

Pansar is principally engaged in the marketing and distribution of hardware and building products, such as building materials, wood-engineering equipment, electrical and office automation products, ventilation and fire protection systems.

Last month, the group signed an exclusive distributorship agreement with JCB Sales Asia Pacific Pte Ltd, to distribute the latter’s products in Sabah and Sarawak.

Pansar intends to construct or expand its sale offices, service centres, warehouses and transportation vehicles to facilitate operations of the new dealership.

The costs will be funded via a private placement of up to 10% of its total number of issued shares, at 42.7 sen per placement share, to raise RM11.76 million.