Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on March 21, 2017.

 

Tadmax Resources Bhd (-ve)
SHARES in Tadmax Resources Bhd (fundamental: 0.95/3, valuation: 0.9/3) triggered our momentum algorithm yesterday, as the counter closed 2.5 sen or 5.49% higher to settle at 48 sen, giving it a market capitalisation of RM234.8 million. Volume traded was 38.27 million shares, compared with its 200-day average volume of 1.64 million shares.

The ready-mix concrete supplier and property developer announced last Friday that founder cum deputy group executive chairman of Chin Hin Group Bhd Datuk Seri Chiau Beng Teik has emerged as a substantial shareholder of the company with a 5.11% stake.

Tadmax disclosed that Chiau bought 25 million shares via a direct business transaction last Wednesday but did not reveal the price at which the shares were traded. As at Dec 21 last year, Chiau had a 69.72% stake in Chin Hin.

The stock is currently trading at 0.89 times its book value.

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