Ho Wah Genting Bhd (+ve)
TRADING of shares in Ho Wah Genting Bhd (fundamental: 0.55/3, valuation: 0/3) triggered our momentum algorithm yesterday for the fourth time this year.
The company’s share price closed 2.33% or half a sen higher at 22 sen.
Some 15.24 million shares were traded during the day, over 11 times the counter’s 200-day average trading volume of 1.32 million shares.
Last Thursday, the company announced to Bursa Malaysia that it had inked a memorandum of understanding (MoU) with a Chinese company principally engaged in the research and development, manufacture, and distribution of pharmaceutical products to explore the possibility of a collaboration.
The MoU was inked by its wholly-owned HWG Consortium Sdn Bhd with Shijiazhuang Yiling Pharmaceutical Co Ltd (SYP).
Under the MoU, HWG Consortium is authorised to register SYP’s products in Malaysia on behalf of SYP, with the cost of such registration to be reimbursed by SYP.