Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on April 16, 2018

YKGI Holdings Bhd (+ve)

SHARES in YKGI Holdings Bhd (fundamental: 0.2/3; valuation: 0.9/3) triggered our stocks with momentum algorithm last Friday for the 11th time this year.

The counter closed up 6.5 sen or 17.57% at 43.5 sen, with a market capitalisation of RM152.54 million, with 22.06 million shares traded — higher than its 200-day average volume of 967,928 shares. YKGI is principally involved in the manufacturing and selling of galvanised and coated steel products, pickled and oiled hot-rolled coils and cold-rolled coils.

Last month, the group entered into mutual confidential agreements with CSC Steel Holdings Bhd and NS BlueScope Malaysia Sdn Bhd to dispose of certain assets.

The asset, which is a 25-acre land housing a manufacturing plant that processes hot- rolled coils, is said to have a net book value of RM83.18 million as at end-2014.

As at last Friday, YKGI shares were trading at 0.85 times its net book value.

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