This article first appeared in The Edge Financial Daily on April 3, 2019

E A Technique (M) Bhd (-ve)

E A Technique (M) Bhd (fundamental: 0.5/3, valuation: 0.95/3) made it in our Stocks with Momentum list yesterday for the first time this year. It saw some 10.53 million shares traded, five times higher than its 200-day average trading volume of 2.04 million shares. The stock closed up 2.5 sen or 5.16% yesterday at a two-month high of 51 sen, with a market value of RM257.04 million.

Despite a net loss of RM33.43 million in the fourth quarter ended Dec 31, 2018 (4QFY18), E A Technique saw a net profit of RM74.23 million for FY18 compared to a net loss of RM121.15 million a year earlier.

The profit for the year was mainly due to the reversal of engineering, procurement, construction, installation and commissioning project costs as there were some deletion of scope of works and settlement of claims from customers.