KUALA LUMPUR (May 11): LFE Corp Bhd rose as much as 8% on news the Practice Note 17 firm has obtained Bursa Malaysia's approval to implement its regularisation plan.

The approval will allow Shapadu Corp Sdn Bhd, owned by the family of late businessman Datuk Shahrani Abdullah, to buy 66.67 million new LFE (fundamental: 0.15; valuation: 0.5) shares. The shares represent a 15% stake in electrical and mechanical engineering specialist LFE.

LFE rose as much as two sen to 28.5 sen before paring gains. At 12.30pm, the stock settled at 27.5  sen for a market capitalisation of RM23.3 million.

The stock saw some six million shares done. LFE had gained 71.88% this year, outperforming the the FBM KLCI's 3% gain.

The stock is featured as a stock with momentum in The Edge Financial Daily and theedgemarkets.com today.

According to Shapadu's website, the group is a licensed oil and gas contractor in Malaysia for Petroliam Nasional Bhd.

Shapadu is also a highway concession owner in the country.

(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.)