This article first appeared in The Edge Financial Daily on April 17, 2018

Eversendai Corp Bhd (+ve)

SHARES in Eversendai Corp Bhd (fundamental: 0.8/3; valuation: 0.9/3), which triggered our momentum algorithm yesterday for the second time this year, slid 2.5% or 2.5 sen to close at 97.5 sen. The counter saw 1.33 million shares done, versus its 200-day average of 2.92 million shares.

For the fourth quarter ended Dec 31, 2017, the group posted a net profit of RM29.81 million, compared to a net loss of RM214.46 million a year ago, on an improvement in operating performance across various business units. Quarterly revenue jumped 48.86% to RM519.22 million, from RM348.79 million.

For the full financial year ended Dec 31, 2017, Eversendai returned to the black with a net profit of RM86.51 million, versus a net loss of RM278.88 million a year ago. Revenue clocked in 15.67% higher at RM1.83 billion, from RM1.58 billion.

The group announced on Feb 27 that it had bagged seven new contracts in the Middle East worth about RM261.7 million.

Eversendai is currently trading at 0.86 times its net book value.