C.I. Holdings Bhd (+ve)
SHARES for C.I. Holdings ( Fundamental: 1.85/3 Valuation: 0.3/3), which traded range bound for the past year, surged about 70% to a three-year high of RM 1.97 in just two weeks on the back of high volume. The stock was flagged by The Edge Markets as having a HIGH likelihood of corporate exercise. 

In response to an UMA query from Bursa, C.I revealed that it is in the midst of preliminary negotiations for a corporate exercise but has given no further details. 

For 1HFYJune15, sales increased more than ten-fold y-o-y to RM 197.6 million while pre-tax profit rose in tandem to RM3.12 million, thanks to the newly acquired edible oils division, which accounts for 90% of revenue. It had been loss-making in FY2013-FY2014.

CI Holdings is also the sole distributor of tap and sanitary ware under the brands ‘Damixa’ and ‘Azzurra’.

This article first appeared in The Edge Financial Daily, on March 5, 2015.