Stock With Momentum: Cypark Resources

This article first appeared in The Edge Financial Daily, on January 14, 2020.
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Cypark Resources Bhd (+ve)
TRADING of shares in renewable energy player Cypark Resources Bhd (fundamental: 2/3, valuation: 3/3) triggered our proprietary momentum algorithm yesterday for the second time in the past one year, with the previous being in February 2019.

A total of 4.42 million shares were crossed, sharply higher compared with its 200-day average of 474,414 shares.

The counter closed three sen or 2.01% higher at RM1.52 for a market capitalisation of RM710.51 million.

For the fourth financial quarter ended Oct 31, 2019, the company reported a net profit growth of 23% to RM38.87 million from RM31.53 million due to the adoption of Malaysian Financial Reporting Standard 15 and a higher margin yielded from the environmental engineering and green technology and renewable energy divisions.

Revenue for the quarter also increased 5% year-on-year to RM99.7 million from RM94.59 million.