This article first appeared in The Edge Financial Daily on December 8, 2017
Ireka Corp Bhd (-ve)
SHARES in Ireka Corp Bhd (fundamental: 0.15/3, valuation: 1.8/3) triggered our momentum algorithm yesterday for the first time this year.
Ireka closed up 1.5 sen or 2.31% at 66.5 sen, with 921,600 shares traded versus the counter’s 200-day average volume of 32,071.5 shares. Its market capitalisation stood at RM113.63 million.
The company is mainly involved in construction and civil engineering works, and property development.
Earlier this week, Ireka signed a memorandum of understanding (MoU) with the world’s largest manufacturer of rolling stock and rail-related products and systems CRRC Urban Traffic (Europe) Co Ltd to venture into rail projects.
Ireka said the MoU served the purpose for the collaboration in rail, urban traffic solution, tourism and infrastructure projects in Malaysia and Southeast Asia.