This article first appeared in The Edge Financial Daily on December 24, 2019

GDB Holdings Bhd (+ve)

TRADING of shares in GDB Holdings Bhd (fundamental: N/A, valuation: N/A) triggered our momentum algorithm as the shares gained three sen or 5.31% to 59.5 sen with 14.66 million shares traded yesterday.

Year to date, GDB’s share price has more than doubled from 23 sen on Jan 2 this year. At the current price, GDB has a market capitalisation of RM371.87 million.

This is the seventh time GDB is featured in “Stocks with Momentum”.

GDB recently proposed the transfer of its listing from Bursa Malaysia’s ACE Market to the Main Market.

The group said it has met the requirements for the proposed transfer as set out in the equity guidelines issued by the Securities Commission Malaysia.

GDB said the proposed transfer will enhance its credibility, prestige and reputation, and accord it with greater recognition and acceptance among investors, including institutional investors while reflecting GDB’s current scale of operations. This will in turn enhance the attractiveness and marketability of GDB shares.

The group expects the transfer to be completed in the first half of 2020.