KUB Malaysia Bhd (+ve)
TRADING of shares in KUB Malaysia Bhd (fundamental: 1.2/3, valuation: 3/3) triggered our momentum algorithm yesterday for the first time this year.
KUB closed up 5.5 sen, or 12.09%, at 51 sen, after 21.66 million shares were traded, versus the counter’s 200-day average volume of 1.44 million shares. The group’s market capitalisation stood at RM283.80 million.
The group operates in the core business of information, communications & technology, property, engineering & construction, agro, food-related and energy industries.
KUB, whose share price has shot up 68% last week, announced that several parties have expressed interest to buy the stake held by its controlling shareholder Anchorscape Sdn Bhd.
It said Anchorscape had issued a letter to inform the company of the interest expressed by the parties and that the discussions with the parties are still preliminary at this juncture, with no agreement or conclusion made.
As of yesterday, KUB’s shares were trading at 0.85 times its net book value.