TRC Synergy Bhd (-ve)
SHARES in TRC Synergy Bhd (fundamental: 1.4/3, valuation: 1.4/3) closed up 2.5 sen or 3.94% at 66 sen yesterday, after 8.79 million shares were traded, up near seven times its 200-day average volume of 1.31 million shares.
The group is principally involved in construction and property development.
Last Tuesday, the group inked a 12-year operating service agreement with Starwood Australia Hotels Pty Ltd to run a hotel known as Element Melbourne Richmond in Melbourne, Australia.
Starwood Australia is an affiliate of Marriott International Inc.
TRC Synergy also inked a system licence agreement for use of trademarks, other Starwood intellectual property rights and manuals, and to implement the Element Hotel brand standards.
The hotel’s development is scheduled to begin by Dec 30 this year, and to be operational by February 2020.
At the current share price, TRC Synergy is trading at 0.83 times its book value. It has a market capitalisation of RM312.32 million.