Kobay Technology Bhd (-ve)
TRADING in the shares of Kobay Technology (fundamental: 2.50/3, valuation: 1.70/3) triggered our momentum algorithm yesterday for the sixth time this year.
The stock jumped 22 sen or near 17% to close at RM1.55, leaving it with a market capitalisation of RM158.29 million, after 2.19 million shares were traded, compared to its 200-day average of 155,345.5 shares.
The precision metal component manufacturer’s net profit for the fourth quarter ended June 30, 2018 (4QFY18) jumped 369% to RM5.49 million from RM1.17 million a year ago, while revenue grew 15% to RM44.42 million from RM38.59 million.
The stronger quarterly earnings was mainly due to its improved manufacturing segment, in which it recorded higher orders from electronic customers, an expanded customer base and improved production efficiency and better product margin at its precision components and semiconductor equipment business.