Stock With Momentum: GFM Services

This article first appeared in The Edge Financial Daily, on January 14, 2019.
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GFM Services Bhd (-ve)

TRADING of shares in GFM Services Bhd (fundamental: 2.4/3, valuation: 0.7/3) triggered our stocks with momentum algorithm last Friday for the first time this year.

The stock gained one sen or 2.06% at 49.5 sen last Friday with a market capitalisation of RM233.10 million, with 2.49 million shares traded, higher than its 200-day average volume of 742,371 shares.

GFM is principally engaged in the provision of facilities operations, maintenance and management and engineering services and facility consultancy and advisory services.

Last month, GFM issued Islamic medium term notes (IMTN) totalling RM165 million in nominal value under its RM300 million IMTN programme.

This sukuk tranche was issued by its wholly-owned subsidiary Dynasty Harmony Sdn Bhd, and have tenures of between 10 years and 14.5 years.