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This article first appeared in The Edge Financial Daily on November 21, 2018

Tatt Giap Group Bhd (-ve)

TRADING of shares in stainless steel pipe trader and manufacturer Tatt Giap Group Bhd (fundamental: 0.00/3, valuation 0.00/3) triggered our momentum algorithm on Monday for the eighth time this year.

The stock closed unchanged at 23.5 sen, with 35.87 million shares done versus the counter’s 200-day average trading volume of 1.76 million shares. In the past 12 months, the stock has jumped about 57%.

Last Wednesday, the group announced the appointments of Woon Kok Kee and Khoo Song Heng as executive directors (EDs), and Lim Peng Tong as an independent and non-executive director. Khoo, 50, is currently Dynaciate Engineering Sdn Bhd's (DESB) managing director, and Woon, 50, the ED. Woon and Khoo emerged as substantial shareholders of Tatt Giap via their private investment vehicle DESB with a 12.953% stake on Nov 3.

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