Stock With Momentum: Taliworks Corp

This article first appeared in The Edge Financial Daily, on August 29, 2018.
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Taliworks Corp Bhd (-ve)

TRADING of shares in Taliworks (fundamental: 0.85/3, valuation: 1.40/3) triggered our momentum algorithm yesterday for the fifth time this year. The group saw 6.61 million shares traded, compared with its 200-day average of 789,018.5 shares.

On Monday, Taliworks said it had decided to accept a new operations and management (O&M) contract offer from Pengurusan Air Selangor Sdn Bhd (Air Selangor) for the Sungai Selangor Phase 1 Water Treatment Plant.

The offer, which includes the termination of the old O&M agreement and settlement of outstanding receivables, is part of Air Selangor’s acquisition of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd.

The stock rose 11 sen or near 9% to close at RM1.35 yesterday, giving it a market capitalisation of RM1.63 billion.