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This article first appeared in The Edge Financial Daily on February 13, 2019

Ekovest Bhd (-ve)
TRADING of the shares in Ekovest Bhd (fundamental: 1.30/3, valuation: 2/3) triggered our algorithm for the first time this year.

The counter closed higher by half a sen or 0.89% to 57 sen, with 17.60 million shares traded. This is in contrast to its 200-day average trading volume of 6.82 million shares.

The group announced on Dec 31, 2018, that it was setting up a sub-subsidiary Duke Hotels Sdn Bhd (DKSB) to get involved in the hotel industry.

DKSB has a paid-up share capital of two shares worth RM2 in total.

The group also announced on Dec 9, 2018, that Spanish hotel group Melia Hotels International will manage its hotel suites in the EkoCheras development.

The agreement is set to last 15 years and Melia is to operate the INNSIDE Kuala Lumpur Cheras hotel, which will offer 238 rooms and is to open in late 2019.

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