January 19, 2023 14:00 pm +08 Arreit, Pelikan, XL, Ewein, Apollo, Resintc -A+A KUALA LUMPUR (Jan 19): theedgemarkets.com highlighted four stocks with positive momentum and two stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday (Jan 19).
The stocks with positive momentum were: Amanahraya REIT - up one sen at 62 sen Ewein Bhd - unchanged at 54.5 sen Pelikan International Corp Bhd - up 1.5 sen at 45.5 sen XL Holdings Bhd - up half a sen at 80 sen The stocks with negative momentum were: Apollo Food Holdings Bhd - up eight sen at RM4.16 Resintech Bhd - up 1.5 sen at 56 sen The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.
This list is not a buy or sell recommendation. It merely tells you which stocks are seeing higher-than-normal volume and price movements.
The share price may move up or down from this point. But the “+ve” (suggesting a rising price trend on volume) and “-ve” (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell. Note also that momentum generally only persists for a short period of time.
However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum.
Interest picks up in Penang-based Ewein as share price and volume rise TheEdge Tue, Feb 07, 2023 04:00pm - 6 days
MAIN Market-listed Ewein Bhd appears to be back on investors’ radar screens as shares of the property developer have risen by 64% since Jan 13, to a 52-month intra-day high of 57.5 sen apiece on Jan 19. Shares of the company also saw heavy trading volume from Jan 13 to 19.
What could be brewing at the Penang-based property developer, whose founder and executive chairman Datuk Ewe Swee Kheng committed suicide in October 2021? It is worth noting that his brother, Ewe Swee Kiat, resigned as the group’s non-executive director on Nov 17, 2022, to “pursue other business interests and personal commitments”, according to a filing with Bursa Malaysia. Swee Kiat, a lawyer, was appointed to the board on Nov 18, 2021.
His sister Ewe Lay Khim, who was made executive chairman also on Nov 18, 2021, remains in her position at the time of writing. A chemist by training, she was appointed a non-independent non-executive director at Ewein on May 27, 2015.
“The industry has been hearing about a boardroom restructuring at the company with a new shareholder emerging. However, there are no details on who that might be,” a market observer says.
According to its 2022 annual report, Ewein’s largest shareholder as at April 5, 2022, was Hijauwasa Sdn Bhd with a direct interest of 39.99%.
Thus far, there has been no announcement on any shareholder changes since Oct 1, 2021, when the company disclosed that a 39.99% stake, or 37.5 million Ewein shares, had been transferred from Amsec Nominess (Tempatan) Sdn Bhd to Hijauwasa.
Hijauwasa is the private vehicle of the late Swee Kheng.
A check with the Companies Commission of Malaysia (SSM) shows that Hijauwasa is still held by the Ewe family. The group has no other major substantial shareholders.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
wkkht
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Posted by wkkht > 2023-01-18 15:54 | Report Abuse
What is the reason for the rise??