Prestariang Bhd (-ve)
TRADING of shares in Prestariang Bhd (fundamental: 0.8/3, valuation: 0.8/3) triggered our momentum algorithm yesterday for the second time this month.
The stock finished half a sen up or 0.89% at 57 sen, valuing it at RM274.91 million. A total of 90.64 million shares were traded, compared with its 200-day average trading volume of 17.71 million shares.
Prestariang has been in the limelight amid market talks of a potential revival of the RM3.5 billion national immigration control system (SKIN) contract that was terminated in December last year.
The company’s share price has risen 50% since March — and at one point suspended — to now be valued at RM274.91 million. Prestariang has told the stock exchange that it is not aware of any potential revival or reinstatement of the SKIN project.