This article first appeared in The Edge Financial Daily on October 22, 2018
Ranhill Holdings Bhd (+ve)
TRADING of shares in Ranhill Holdings Bhd (fundamental: 1.1/3, valuation 2.4/3) triggered our momentum algorithm on Friday for the third time this year.
The stock closed one sen or 0.99% higher at RM1.02, with 6.85 million shares done versus its 200-day average volume of 1.20 million shares.
On Aug 21, Ranhill said a suit filed in China against its wholly-owned unit Ran-hill Water Technologies (Cayman) Ltd (RWTC) by Wahtoting Holding Ltd has been dropped.
Prior to this, Ranhill had announced on Nov 2 last year that the suit was brought against RWTC and its associate companies, Ranhill Water (Hong Kong) Ltd and Ranhill Technologies (Shanghai) Ltd, for alleged non-payment of fees totalling 19.94 million yuan (RM12.76 million).