Hot Stock Scanwolf up 6.3% on report of end of boardroom tussle

by **Cals** Thu 03 Dec 2015, 23:27

Hot Stock

[size=28]Scanwolf up 6.3% on report of end of boardroom tussle

By Yimie Yong / theedgemarkets.com | December 3, 2015 : 11:53 AM MYT

KUALA LUMPUR (Dec 3): Shares of Scanwolf Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 0.55) rose as much as 6.35% after The Edge Financial Daily (Edge FD) reported that the company's major shareholders seemed to be working together peacefully for now and the company plans to launch phase two of its flagship project next year.

Edge FD, quoting the management of Scanwolf, reported that everything is back to normal and there is no more boardroom tussle in the company.

Scanwolf was embroiled in a boardroom tussle between April and June this year.

A company official also said the Ipoh-based home and kitchen fittings manufacturer has planned to launch the second phase of its flagship development project, Kampar Putra, in 2016. The new phase of the project, which comprised 600 units of commercial suites, is expected to fetch a gross development value (GDV) of RM122 million.

At 11.32am, Scanwolf pared down some gains to trade at 32.5 sen, up 1 sen or 3.18%, with 887,000 shares changing hands. It has a market capitalisation of RM28.45 million.

As comparison, the FBM KLCI was down 2.31 points or 0.13% at 1,674.64.

Year to date, Scanwolf's shares have declined more than 44%.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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