Stock With Momentum: PeterLabs Holdings

This article first appeared in The Edge Financial Daily, on March 1, 2019.
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PeterLabs Holdings Bhd (-ve)

TRADING of shares in PeterLabs Holdings Bhd (fundamental:1.30/3, valuation:1.10/3) triggered our momentum algorithm for the second time this year.

The last time it triggered our momentum algorithm was on Jan 24 this year. Its share price closed half a sen lower at 32.5 sen yesterday with 3.91 million shares being traded. This is in comparison with its 200-day average trading volume of 150,098 shares. On Wednesday, the group announced that it received in writing from shareholders a day earlier to convene an extraordinary general meeting to remove seven existing directors: Lim Tong Seng, Datuk Hon Choon Kim, Dr Paul Cheng Chai Liou, Yap Siaw Peng, Lau Yeng Khuan, Dr Vijaya Raghavan MP Nair and Azman Abdul Jalil.

Shareholders are also seeking to appoint new directors Chai Choon We, Goh Sim Geh and Cheoh Hor Jin, as well as redesignating its existing executive director Lau Kin Wai as its sole managing director.