This article first appeared in The Edge Financial Daily, on January 20, 2016.
Raya International Bhd (-ve)
SHARES of Raya (Fundamental: 0.65/3, Valuation: 0/3) rose 5.6% to close at 28.5 sen yesterday, with 6.7 million shares changing hands, compared to its average 200-day volume of 441,147 shares.
Raya was last featured in “Stocks with Momentum” and had risen by 39.0% ever since.
An announcement was made in December 2015 on a collaboration between its subsidiary Selatan Bunker and Tumpuan Megah Development Sdn Bhd to jointly explore and develop the business of carrying out the provision of bunkering services for marine fuel, petroleum and petroleum-based products, comprising the operations as well as marketing and sales of bunkering services in Pasir Gudang Port area and to work on mutually agreed projects in this area.
Ever since then, the company had surged by 58.3% in about three weeks.
The group mainly manufactures and distributes air and water filters. It also designs and installs clean room facilities.