This article first appeared in The Edge Financial Daily on May 31, 2017

Allianz Malaysia Bhd (-ve)
Shares in Allianz Malaysia Bhd (fundamental: 0.55/3, valuation: 1.5/3) triggered our momentum algorithm for the first time this year.

The counter slid eight sen or 0.63% to settle at RM12.52 yesterday, after 391,200 shares were traded, exceeding its average volume of 99,638 shares over the past 200 days.

Allianz Malaysia recently undertook some changes to the group’s board compositions and its insurance subsidiaries to comply with corporate governance policy requirements.

Under the exercise, executive director Zakri Mohd Khir — Allianz Malaysia chairman Tan Sri Razali Ismail’s nephew — quit his post, but remained as the group’s chief executive officer.

Meanwhile, Razali was redesignated as Allianz Malaysia’s non-independent, non-executive director.

The stock is currently trading at 0.8 times its book value and has a trailing 12-month price-earnings ratio of 7.02 times.