Globaltec jumps 9.1%, second most active stock

Globaltec jumps 9.1%, second most active stock
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KUALA LUMPUR (Aug 5): Globaltec Formation Bhd's share price rose as much as 9.1% to 6 sen with 12.59 million shares traded at 10.56am, emerging as the second top most-active stock.

According to an analyst when contacted by theedgemarkets.com, the stock just went up by one bid or 0.005 sen in morning trades.

"Volume spiked today morning could be due to rogue trades and syndicates or this could be genuine follow through as the volume has been around 1.7–2.5 million for the last three trading days," added the analyst.

Its market capitalisation stood at RM296 million.

Globaltec (fundamental: 0.95; valuation: 0.9), formerly Temasek Formation Bhd, is an investment holding company which operates in two segments, Integrated Manufacturing Services, and Resources and Investment Holding segments.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)