Stock With Momentum: Amcorp Properties Bhd

This article first appeared in The Edge Financial Daily, on August 7, 2018.
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Amcorp Properties Bhd (-ve)
TRADING of the shares in Amcorp Properties Bhd (fundamental: 1.7/3, valuation: 3/3) triggered our proprietary momentum algorithm yesterday for the second time since last Wednesday.

The counter finished 0.5 sen or 0.7% higher at 72 sen, bringing it a market capitalisation of RM438.73 million. A total of 406,000 shares exchanged hands, compared with its 200-day average volume of 90,904 shares.

Amcorp Properties’ net profit surged 12 times to RM34.71 million in the fourth financial quarter ended March 31, 2018 (4QFY18) from RM2.89 million a year ago.

Quarterly revenue, however, fell 40.6% to RM27.84 million from RM46.9 million in 4QFY17.