KUALA LUMPUR (Feb 10): Only World Group Holdings Bhd (OWG) fell five sen or 3.82% as investors locked in gains from the stock's earlier rise. At 10:54 am, the stock clocked in at RM1.26.
Food service and amusement park operator OWG (fundamental score: N/A; valuation score: N/A)
reached an intraday high of RM1.35 and fell to a low of RM1.24 today.
OWG shares had earlier risen after The Edge Financial Daily (Edge FD) reported today that the over 50% rise in OWG's share price since the end of January had raised eyebrows.
According to the Edge FD, dealers attributed OWG's share price rally to strong recommendation by a local investment bank and rumours that Genting group chief Tan Sri Lim Kok Thay had invested in the firm.
OWG officials said they were, however, not aware of rumours on Lim's investment in the company, according to Edge FD.
OWG was listed in December 2014 at an initial public offering price of 88 sen.
Year-to-date (2015), the share price had grown 43.82%, significantly outperforming the FBM KLCI's 3% gain.
(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.)