Stock With Momentum: Allianz Malaysia

This article first appeared in The Edge Financial Daily, on July 19, 2017.
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Allianz Malaysia Bhd (+ve)

SHARES in Allianz Malaysia Bhd (fundamental: 0.55/3, valuation: 1.5/3) closed two sen or 0.14% higher at RM13.82 yesterday, with 1.27 million shares done, compared with its 200-day average of 89,145 shares.

The financial services group is mainly involved in general insurance, offering products such as motor, life, health and investment-related insurance.

On Monday, it said it expects to see up to 10 more partnerships launched this year. The group has been scaling up its partnerships to diversify its digital offerings.

The group has formed 16 partnerships in Asia over the past 18 months, with three based in Malaysia.

At its current share price, Allianz is trading at 0.81 times its book value.