REDTONE (0032) - Stock With Momentum: REDtone International
This article first appeared in The Edge Financial Daily, on March 10, 2017.
REDtone International Bhd(-ve)
SHARES in REDtone International Bhd (fundamental: 0.95/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the second time this year, closed 12 sen or 28.2% higher at 54.5 sen yesterday.
It saw 8.38 million shares done, far exceeding its 200-day average volume of 190,457 shares.
The Sultan of Johor’s daughter Tunku Tun Aminah Sultan Ibrahim Ismail, 30, has been appointed as REDtone’s new chair, replacing Datuk Seri Syed Ali Syed Abbas Al Habshee, effective last Friday. Syed Ali quit his post due to other commitments and responsibilities.
Tunku Tun Aminah, who is also the chairman of Berjaya Waterfront Sdn Bhd, also serves as a director on the board of several other private companies, including Jauhari Maksima Sdn Bhd and Ikatan Jauhari Sdn Bhd.
Berjaya Corp Bhd has a 51.72% stake in REDtone, while the Sultan of Johor Sultan Ibrahim Sultan Iskandar owns 17.92%.
At the current share price, REDtone is trading at 3.03 times its book value.
REDTONE (0032) - Stock With Momentum: REDtone International
http://www.theedgemarkets.com/my/article/stock-momentum-redtone-international
