Stock With Momentum: Destini

This article first appeared in The Edge Financial Daily, on December 20, 2019.
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Destini Bhd (-ve)
TRADING of shares in Destini Bhd (fundamental: 1.05/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the third time this year.

The stock closed unchanged at 24 sen, with 15.33 million shares done, compared with the average 7.04 million shares recorded in the past 200 days.

On Dec 3, Destini said it had secured a one-year extension for its contract with the defence ministry to provide maintenance, repair and overhaul services as well as supply safety and survival equipment to the Royal Malaysian Air Force. The contract’s ceiling value was RM50.18 million.

The contract, awarded to Destini’s wholly-owned subsidiary Destini Prima Sdn Bhd, requires the company to carry out the Professional Training and Education for Growing Entrepreneurs (Protégé) programme and includes at least 20 Protégé participants at no cost to the government.