Benalec Holdings Bhd (+ve)
TRADING of shares in Benalec Holdings Bhd (fundamental: 0.95/3, valuation: 0.9/3) triggered our momentum algorithm for the second time this year. The last time it triggered our algorithm was on Feb 20.
The counter closed 10% or two sen higher at 22 sen — with 7.84 million shares changing hands — giving the group a market capitalisation of RM189.8 million. This was in contrast to its 200-day average trading volume of 727,796.5 shares.
On Feb 27, the group announced the appointment of Fazrin Azwar Md Nor, 52, as an independent and non-executive director.
He was also appointed to the group’s Audit Committee, which is chaired by senior independent and non-executive director Koo Hoong Kwan. Also on the committee is independent and non-executive director Wong Yoke Nyen.