Stock With Momentum: GDB Holdings

This article first appeared in The Edge Financial Daily, on December 17, 2019.
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GDB Holdings Bhd (-ve)
GDB Holdings Bhd (fundamental: N/A, valuation: N/A), whose shares gained one sen or 1.90% yesterday to close at a record high of 53.5 sen, made it into our Stocks with Momentum list for the fifth time this year.

The counter recorded a total trading volume of 14.77 million shares, exceeding its 200-day average of 1.95 million shares. In the past one year, the stock has jumped about 144%.

The ACE Market-listed construction services firm announced on Nov 27 that its wholly-owned Grand Dynamic Builders Sdn Bhd bagged a RM213.3 million contract from Hap Seng Consolidated Bhd’s wholly-owned Sunhill Ventures Sdn Bhd.

Under the contract, Grand Dynamic Builders was appointed the main contractor to undertake the main building works for the proposed development of a five-star 22-storey hotel in Kota Kinabalu.

The contract starts on Jan 2, 2020, and is scheduled to be completed by Nov 16, 2021.