<div>This article first appeared in <em>The Edge Financial Daily</em>, on October 24, 2016.<br />
<br />
&nbsp;</div>

<div class=newsTextDataWrapInner><p><strong>Sinotop Holdings Bhd (+ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in Sinotop Holdings Bhd (fundamental: 1.2/3, valuation: 1.5/3), which triggered our momentum algorithm last Friday for the second time this year, closed 0.5 sen or 8.33% higher at 6.5 sen.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>There were some 12.79 million shares traded, compared with the counter’s 200-day average volume of 429,769 shares.</p></div>

<div class=newsTextDataWrapInner><p>On the same day, the China-based fabric manufacturer proposed a capital reduction and repayment, a share consolidation, as well as a diversification of its existing business to include project management and infrastructure construction.</p></div>

<div class=newsTextDataWrapInner><p>The capital reduction and repayment involves the cancellation of 14 sen of the par value of each existing Sinotop shares, of which 12.49 sen per share would be set off against the company’s accumulated losses, while 1.51 sen per share would be repaid to its shareholders.</p></div>

<div class=newsTextDataWrapInner><p>The proposed share consolidation will be at a ratio of five ordinary shares of six sen each (after capital reduction and repayment) into one consolidated share of 30 sen each.</p></div>


This article first appeared in The Edge Financial Daily, on October 24, 2016.

 

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