SWS Capital Bhd (-ve)
TRADING of shares in SWS Capital Bhd (fundamental: 0.35/3, valuation: 0.3/3), which triggered our momentum algorithm yesterday for the first time this year, led the stock to close two sen or 2.94% higher at 70 sen. The counter saw 1.94 million shares traded, versus its 200-day average trading volume of 103,853 shares.
The group is principally engaged in the design, manufacture and sale of wooden furniture products, as well as the production and trade of plastic wares, utensils and goods.
On Tuesday, SWS said it was venturing into drone technology, confident that an Industry 4.0 data-driven approach via artificial intelligence to Malaysia’s agriculture will boost yields and efficiency for local producers.
It has inked a memorandum of understanding with local information technology company Nexus Union Sdn Bhd with an options agreement to take up a 51% stake in Nexus’ 70%-owned MATA Aerotech Sdn Bhd for RM4.725 million.