This article first appeared in The Edge Financial Daily on June 12, 2018 - June 18, 2018

GSB Group Bhd (+ve)

SHARES in property developer GSB Group Bhd (fundamental: 0.15/3, valuation: 0.3/3) triggered our proprietary momentum algorithm for the seventh time this year.

The counter closed two sen or 10.81% higher at 20.5 sen, with a market capitalisation of RM105.96 million. A total of 64.24 million shares changed hands, exceeding the counter’s 200-day average volume of 1.86 million shares. It is trading at 2.01 times its book value.

Last Friday, Javawana Sdn Bhd put forth a conditional mandatory takeover offer to acquire all remaining 313.1 million ordinary shares in GSB for a cash consideration of 13 sen per offer share.

Javawana, which is an investment vehicle controlled by construction company Kerjaya Prospek Group Bhd executive chairman Datuk Tee Eng Ho, executive director Datin Toh Siew Chuon, and non-executive director Tee Eng Seng, currently has a 40.71% stake or 215 million shares in GSB.