GDB Holdings Bhd (+ve)
TRADING of shares in GDB Holdings Bhd (fundamental: N/A, valuation: N/A) triggered our momentum algorithm yesterday for the second time this year.
The counter closed at a 14-month peak after increasing two sen or 5.63% to close at 37.5 sen. It saw some 12.81 million shares change hands, nearly 12 times more than its 200-day average volume of 1.07 million 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 July 23, the group acquired a 70% stake in Eco Geotechnics Sdn Bhd for RM5.96 million. It said the acquisition would enable it to benefit from Eco Geotechnics’ bored piling and foundation works speciality, strengthen GDB’s competitive edge as an integrated builder, and create opportunities to expand its customer base. Founded in 2011, Eco Geotechnics is a contractor specialising in major geotechnical and foundation engineering works.