Stock With Momentum: Muar Ban Lee

TheEdge Tue, May 28, 2019 11:08am - 4 years View Original

Muar Ban Lee Bhd (+ve)

The trading of shares in Muar Ban Lee Bhd (fundamental: 2.1/3, valuation: 1.8/3), which rose to close two sen or 1.46% higher at RM1.39 yesterday, made it into our Stocks with Momentum list for the third time this month.

At the closing bell, Muar Ban Lee recorded a total trading volume of 960,800 shares, sharply higher compared with its 200-day average of 100,637 shares.

The climb in Muar Ban Lee’s stock price can be traced back to March. The stock has jumped 34% from RM1.03 as at end of February.

Founder cum executive chairman Datuk Chua Ah Ba @ Chua Eng Ka, his sibling Chua En Hom and son Chua Heok Wee are the company’s largest shareholders with a near-42% stake held via MBL Realty Sdn Bhd, as at April 11.

The company plans to invest in new high-tech machines and the automation of production lines, to improve quality and efficiency in production outputs going forward.

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