NWP Holdings Bhd (-ve)
TRADING of shares in NWP Holdings Bhd (fundamental: 0.95/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the fourth time this year, closed half a sen or 2.5% higher at 20.5 sen.

It saw 13.37 million shares traded, nearly 17 times its 200-day average volume of 797,425 shares.

On Feb 17, the group said it had received an extraordinary general meeting (EGM) requisition from its shareholders to remove executive director Wong See Ming from its board.

The notice was served by Tan Su Haw and Chew Kah Eng, two shareholders who claimed they jointly held a 12.1% equity stake in NWP. They also wanted to remove any other director who might have been appointed by the board to fill casual vacancies of the board until the holding of the EGM.

The duo also sought the appointment of Tan, 66, as a director with immediate effect.