CCK Consolidated Holdings Bhd (+ve)
Trading of shares in CCK Consolidated Holdings Bhd (fundamental: 2.1/3, valuation: 1.1/3), which closed 1.5 sen or 1.6% down at 92 sen, triggered our momentum algorithm for the first time since October 2017.
The counter closed with a market capitalisation of RM581.54 million, after a total of 2.92 million shares were traded yesterday. This compared with its 200-day average trading volume of 1.18 million shares.
CCK Consolidated is among stocks covered by CGSCIMB Research that are rated with an “add” call, due to its strong earnings prospects, dominant position in east Malaysia, and robust demand for poultry products in east Malaysia.
The group is understood to continue pursuing expansion in the poultry and retail segments, not just by upgrading existing poultry farms, but also increasing the number of layer, broiler and breeder farms in Kuching, Sarawak, to increase daily output.
As for its retail business, CCK Consolidated has planned to open four to five new outlets this year, accoring to the research house.