Stock With Momentum: Chin Hin Group

This article first appeared in The Edge Financial Daily, on August 13, 2019.
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Chin Hin Group Bhd (+ve)
TRADING of shares in Chin Hin Group Bhd (fundamental: 0.25/3, valuation: 0.8/3) triggered our momentum algorithm last Friday for the fourth time this year. The stock closed half a sen or 0.6% lower to 82.5 sen, with 1.4 million shares done, compared with its 200-day average trading volume of 347,908 shares.

On July 17, the group said Bursa Malaysia Securities Bhd had approved the proposed listing of Atlantic Blue Sdn Bhd via special purpose vehicle Solarvest Holdings Bhd, and that the Securities Commission Malaysia (SC) had approved in principle the registration of Solarvest’s prospectus. Solarvest, a 45%-owned associate of Chin Hin, wholly owns Atlantic Blue.

The listing is still subject to the registration of the prospectus with the SC and lodgement of the prospectus with the Companies Commission of Malaysia.