Kelington Group Bhd (-ve)
TRADING of shares in Kelington Group Bhd (fundamental: 2.1/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the third time this year.
The stock closed up 0.5 sen or 0.57% to 88.5 sen yesterday, with 16.37 million shares done, much higher than the counter’s 200-day average of 1.24 million shares.
On Aug 8, the group said it had bagged several new orders worth RM55 million, boosting total new orders secured to RM236 million year to date. Among the orders was a RM21 million contract in Singapore to supply and provide installation, commissioning and maintenance works for an exhaust duct system. In addition, Kelington also secured a contract to carry out equipment supply and civil engineering works for the expansion of a bulk liquid storage terminal project in the country. The two contracts are expected to be completed by the second and fourth quarters of 2019 respectively.
Kelington is currently trading at 2.15 times its net book value.