KUALA LUMPUR: A 40-year old full time trader became the grand winner at this year’s Kenanga Investment Bank Bhd
’s (Kenanga IB) KenTrade Trading Challenge III, by banking on penny stocks.
Mohd Fairi Che Wanik amassed 15% of the RM100,000 cash provided by KIBB by the end of the Grand Challenge portion of the competition, which lasted less than a month.
Mohd Fairi said he looked at undervalued companies and focused on long-term investments.
The KenTrade Trading Challenge III, which featured two stages, attracted 25,000 participants.
The first stage, which was the Virtual Trading Challenge, ran from July 31 to Aug 25, with each participant receiving RM1mil in virtual money to trade with.
The top 10 qualified as finalists for the second stage, which is the Grand Challenge.
The Grand Challenge took place from Sept 4 to 29, where finalists traded shares with RM100,000 real cash each, by relying on live market feeds from Bursa Malaysia.
The winner is determined by his or her portfolio value and the amount of cash (realised profits) in their accounts. The challenge was open to participants aged over 18 years old.
Separately, KIBB was awarded a certificate from the Malaysian Book of Records for organising the first live stock trading challenge.
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