Stock With Momentum: GSB Group Bhd

This article first appeared in The Edge Financial Daily, on June 22, 2018.
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GSB Group Bhd (-ve)
SHARES in GSB Group Bhd (fundamental: 0.15/3, valuation: 0/3) triggered our proprietary momentum algorithm for the 10th time this year. The stock closed 0.5 sen or 2.17% higher to 23.5 sen with a market capitalisation of RM124.50 million. A total of 47.39 million shares changed hands, exceeding the counter’s 200-day average volume of 2.94 million shares.

On Tuesday, GSB Group appointed Datin Toh Siew Chuon as executive chairman of the company, replacing Loy Kwee Keow, 59, who has been redesignated as non-executive director.

She is an executive director of Kerjaya Prospek Group Bhd. Toh is also the spouse of Datuk Tee Eng Ho and sister-in-law of Tee Eng Seng, who are both controlling shareholders of Javawana Sdn Bhd, the major shareholder of GSB. Toh holds an indirect interest of 40.58% in the company via Javawana.

GSB is trading at 2.31 times its book value.