Stock With Momentum: Cabnet Holdings

This article first appeared in The Edge Financial Daily, on March 11, 2019.
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Cabnet Holdings Bhd (-ve)
Trading of shares in Cabnet Holdings Bhd (fundamental: NA/3, valuation: NA/3) triggered our momentum algorithm last Friday for the first time this year.

The counter closed 1.5 sen or 5.1% higher at a five-month high of 31 sen, with some 726,200 shares done, compared with its 200-day average trading volume of 100,499 shares. It has a market capitalisation of RM55.41 million.

In its fourth quarter ended Dec 31, 2018, the building management solutions provider reported an increase in net profit to RM2.27 million from RM1.12 million a year ago on the back of higher revenue.

Revenue grew from RM13.25 million to RM15.78 million amid higher progress of works for several projects in the quarter, as well as a fast-track project.