Thriven Global Bhd (-ve)
TRADING of shares in Thriven Global Bhd (fundamental: 0.9/3, valuation: 1.5/3), pushing the counter one sen or 4.17% higher at 25 sen yesterday, also triggered our momentum algorithm for the first time this year. The counter saw 11.65 million shares traded, significantly higher compared with its 200-day average trading volume of 1.45 million shares.

The property developer, in a filing with Bursa Malaysia on Monday, said Taliworks Corp Bhd’s controlling shareholder Lim Chee Meng became the third-largest shareholder after a block of 30 million shares was placed out to Lim. This bumped up Lim’s shareholding to 9.89%.

Teladan Kuasa Sdn Bhd is the largest shareholder with a 27.16% stake, followed by Mulpha International Bhd (22.18%). Home Minister Tan Sri Muhyiddin Yassin’s son, Datuk Fakhri Yassin Mahiaddin, is deemed to the major shareholder through Teladan Kuasa. Fakhri is the executive chairman of Thriven.