Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on August 13, 2018

SMRT Holdings Bhd (-ve)

TRADING of the shares in SMRT Holdings Bhd (fundamental: 1.9/3, valuation: 1.5/3) triggered our momentum algorithm last Friday for the first time this year. The group saw 6.42 million shares traded compared to its 200-day average of 1.11 million.

SMRT announced on Aug 2 that its group chief executive officer (CEO) Datuk Abdul Rashid Mohd Sharif had stepped down with immediate effect, and replaced by Dr Amat Taap @ Amat Jais Manshor.

SMRT said Abdul Rashid, 53, who had served as the company’s CEO since Sept 20, 2016, had resigned from his position. The reason given was “change of roles in the company”.

The stock rose half a sen or 3.03% to close at 17 sen last Friday, leaving it with a market capitalisation of RM69.16 million.

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