Malton Bhd (-ve)
TRADING of shares in Malton Bhd (fundamental: 2/3, valuation: 0.35/3) triggered our proprietary momentum algorithm yesterday. The counter saw 34.5 million shares traded by the closing bell versus a 200-day average trading volume of 3.08 million shares.
The counter climbed three sen or 5.22% to close at a one-year high of 60.5 sen yesterday, giving the group a market value of RM319.53 million.
On April 8, Pavilion Real Estate Trust (REIT) declined to participate in the ownership of the 1.8 million sq ft Pavilion Bukit Jalil mall that Malton is currently building. Both the fund and Malton are linked to property tycoon Tan Sri Desmond Lim, who is a substantial shareholder and chairman of both entities.