DRBHCOM (1619) - Stock With Momentum: DRB-Hicom

DRBHCOM (1619) - Stock With Momentum: DRB-Hicom

By Asia Analytica / The Edge Financial Daily   | August 9, 2016 : 10:42 AM MYT    
This article first appeared in The Edge Financial Daily, on August 9, 2016.

DRB-Hicom Bhd

Shares in DRB-Hicom Bhd (fundamental: 0.2/3, valuation: 1.8/3) triggered our momentum stock algorithm for the first time yesterday, after trades of 84.97 million shares, compared with its 200-day average volume of 3.19 million. The counter rose five sen or 4.5% to close at RM1.16.

The Edge weekly’s latest report on DRB-Hicom (dated Aug 8 to 14) may have sparked trading interest in the company, which is expecting up to seven bids to purchase part or all of Proton Holdings Bhd.

According to the weekly, citing sources, most of the bids have been received, with one or two more before the mid-August deadline, with Volkswagen AG and General Motors Co among the interested


DRB-Hicom currently trades at 0.32 times its net asset value. The company paid two sen per share in dividends for the financial year ended March 31, 2016.

DRBHCOM (1619) - Stock With Momentum: DRB-Hicom