Stock With Momentum: GDB Holdings

This article first appeared in The Edge Financial Daily, on July 15, 2019.
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GDB Holdings Bhd (+ve)
TRADING of shares in GDB Holdings Bhd (fundamental: N/A, valuation: N/A) triggered our stocks with momentum algorithm last Friday for the first time this year.

The counter closed up 2.5 sen or 7.81% to 34.5 sen last Friday, with 11.49 million shares traded, higher than its 200-day average volume of 953,151 shares.

The group is principally involved in the provision of construction services, focusing on high-rise residential, commercial and mixed development projects as main contractor and principal works contractor.

On June 13, GDB said it is tendering for RM2.9 billion worth of projects comprising residential and commercial buildings in the Klang Valley.

Its managing director Cheah Ham Cheia said the company’s current tender book consists of 12 projects in the Klang Valley, namely buildings for residential, mixed development, hotel, factory and sales gallery.

As at last Friday, its shares were trading at 2.03 times its net book value.