This article first appeared in The Edge Financial Daily on October 11, 2017 - October 17, 2017

Voir Holdings Bhd (-ve)
SHARES in Voir Holdings Bhd (fundamental: 1.45/3, valuation: 0.3/3) closed one sen or 0.84% lower at RM1.18 yesterday, after 1.93 million shares were done, compared with an average 200-day volume of 250,511 shares.

On Aug 30, Voir said it was planning to diversify its income by taking up a 13.2% stake in Consortium Zenith Construction Sdn Bhd — the contractor for Penang underwater tunnel project — for RM9.86 million. In 2013, the consortium was awarded with contracts worth RM6.34 billion by the Penang government to design and build a 7.2km undersea tunnel linking Penang island to the mainland and three roads.

An apparel producer and seller known for its Voir and Soda brands, both Voir and the consortium are controlled by Datuk Zarul Ahmad Mohd Zulkifli.

The stock is currently trading at 1.8 times its book value and has a market capitalisation of RM171.34 million.