Stock With Momentum: Widad Group

TheEdge Mon, Oct 21, 2019 10:50am - 4 years View Original


Widad Group Bhd (-ve)
TRADING of shares in Widad Group Bhd (fundamental: 2/3, valuation: 0.8/3) triggered our momentum algorithm last Friday for the third time this month.

The counter closed one sen or 2.82% higher at 36.5 sen, bringing it a market value of RM895.94 million. A total of 13.98 million shares were traded compared with its 200-day average volume of 3.62 million shares.

The company has been in the spotlight recently, after its parent Widad Business Group offered to buy PLUS Expressways Bhd by taking over 51% of the concessionaires owned by Khazanah Nasional Bhd for RM1.5 billion cash, or 100% of the concessionaires owned by Khazanah and the Employees Provident Fund for RM3 billion cash.

Last Friday, Widad announced that it was acquiring a 90% stake in Serendah Heights Sdn Bhd — the ultimate owner of a concession to develop and maintain the Universiti Teknologi Mara campus in Jasin, Melaka — for RM95.89 million. The proposed acquisition is expected to boost the group’s order book, which now stands at RM910 million, to RM1.8 billion upon completion.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

WIDAD 0.085

Comments

Login to comment.