This article first appeared in The Edge Financial Daily, on June 1, 2016.
Stock With Momentum: Muar Ban Lee Group Bhd (-ve)
Muar Ban Lee Group Bhd (fundamental: 1.7/3, valuation: 2/3) dipped two sen or 2.17% to close at 90 sen yesterday after some 2.26 million shares were traded, significantly higher than its average 200-day volume of 692,265 shares.
The volume seen yesterday was also the highest trading volume the counter has recorded in the last three years.
The group is engaged in the design and building of oil seed crushing machinery for palm oil mills.
The counter’s share price jumped to its two-year high of 92 sen on Monday. It previously peaked at RM1.086 on May 20, 2013.
It is worth noting that the group’s executive director Tan Sri Tan King Tai @ Tan Khoon Hai increased his stake in the company to 6.567% on May 27 by acquiring 146,300 shares.
In addition, the group also bought back 8,000 units and increased the treasury share to 0.76%.
MBL (5152) - Stock With Momentum: Muar Ban Lee Group