Stock With Momentum: Tatt Giap Group

This article first appeared in The Edge Financial Daily, on December 5, 2018.
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Tatt Giap Group Bhd (-ve)

Trading of shares in Tatt Giap Group Bhd (fundamental: 0/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the 12th time since Oct 26.

At the closing bell yesterday, its share price settled half a sen or 2.94% higher at 17.5 sen, giving it a market capitalisation of RM29.86 million. A total of 23.23 million shares were traded, versus the 200-day average trading volume of 3.36 million shares.

On Monday, Tatt Giap announced that its wholly-owned unit Superinox Pipe Industry Sdn Bhd had secured two contracts worth a combined RM10.57 million from Dynaciate Fabricators Sdn Bhd to undertake steel fabrication and piping prefabrication works.

The projects are related-party transactions as Dynaciate is a wholly-owned subsidiary of Dynaciate Engineering Sdn Bhd, which owns 12.95% of Tatt Giap.