Kelington Group Bhd (-ve)
Trading of shares in Kelington Group Bhd (fundamental: 2.1/3, valuation: 1.1/3) triggered our momentum algorithm last Friday for the second time this month.
Kelington closed up one sen or 1.08% at 93.5 sen, with 9.28 million shares traded versus the counter’s 200-day average volume of 1.34 million shares. The group’s market capitalisation stood at RM236.34 million.
Kelington is a provider of ultra-high purity (UHP) gas and chemical delivery solutions. Apart from Malaysia, its revenues are derived from Singapore, Taiwan and China.
On Aug 8, the group 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.