SUIWAH CORPORATION BHD (-ve)
SUIWAH (Fundamental: 1.8/3, Valuation: 2/3) was last triggered by our momentum algorithm on April 29 at RM 3.19. Since then, the stock fell to a low of RM 3.02 before soaring again to close at a fresh 3-year high of RM 3.40 yesterday. The stock was flagged by The Edge Markets as having a high likelihood of corporate exercise.
Last month, Hwang Shin Hung, son of Managing Director and major shareholder Hwang Thean Long, was appointed as an Executive Director of the company.
Suiwah operates departmental stores and hypermarkets in Penang, namely Sunshine Farlim Shopping Mall, Sunshine Square and Sunshine Bertam Shopping Mall. The company is also involved in the manufacturing of flexible printed circuit boards as well as property investment and development.
Suiwah intends to develop the Sunshine Tower project on a 9-acre land in Farlim, Penang, which comprises of shopping mall, hotel, serviced apartments and business suites.
This article first appeared in The Edge Financial Daily, on May 15, 2015.