Stock With Momentum: Tatt Giap Group

This article first appeared in The Edge Financial Daily, on November 23, 2018.
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Tatt Giap Group Bhd (-ve)

TRADING of shares in Tatt Giap Group Bhd (fundamental: 0/3, valuation 0/3) triggered our proprietary momentum algorithm yesterday for the tenth time this year. The stock closed one sen or 4.17% higher at 25 sen, with 54.58 million shares done versus the counter’s 200-day average volume of 2.09 million shares.

On Wednesday, the company proposed to change its name to Dynaciate Group Bhd.

The proposed name change is subject to approval of the shareholders of the company at an extraordinary general meeting to be convened at a date to be announced later. A circular to shareholders with the details of the proposed change of name will be issued to the shareholders of the company in due course.

Tatt Giap is now trading at 2.26 times its net book value.