Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on April 11, 2017.

 

MNRB Holdings Bhd (-ve) 
SHARES in MNRB Holdings Bhd (valuation: 1.05/3, fundamental: 0/3) triggered our momentum algorithm for the second time this year yesterday, as they closed 2.97% or eight sen higher at RM2.77 with 557,300 shares traded.

The counter was highlighted as a “red flag” stock with momentum by our proprietary algorithm yesterday, suggesting that investors should exercise extra caution while trading.

On March 16, MNRB undertook a RM320 million credit facility provided by AmBank (M) Bhd to refinance its existing borrowings.

The unsecured facility carries a floating interest rate that is reviewed quarterly, and has a tenure of 18 months, with an option to extend for another six months.

The company has two papers due this year — the RM200 million Islamic Commodity Murabaha Financing due on May 22 and another RM120 million Sukuk Mudharabah due on Dec 10.

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