This article first appeared in The Edge Financial Daily on January 22, 2018

Parlo Bhd (+ve)

SHARES in Parlo Bhd (fundamental: 0/3, valuation: 0//3) triggered our stocks with momentum algorithm last Friday for the first time this year.

The stock closed up 5.56% or one sen at 19 sen, with 5.1 million shares done versus the counter’s 200-day average of 128,658 shares.

The vehicle-tracking solution provider’s status as a Guidance Note 3 (GN3) company was recently lifted by Bursa Malaysia as it has managed to regularise its operations.

Parlo shares were suspended from trading on Jan 28, 2016, with the counter last traded at 0.5 sen, after the company triggered the GN3 criteria in October 2013.

Along with the resumption of trading, Bursa has granted Parlo a listing and quotation of an additional 354.03 million new shares issued pursuant to its regularisation plan, comprising the acquisition of its shares from several shareholders, a debt settlement agreement with a former shareholder and a private placement exercise of up to 84.01 million shares.