Stock With Momentum: Frontken Corp Bhd

This article first appeared in The Edge Financial Daily, on August 7, 2018.
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Frontken Corp Bhd (+ve)
TRADING of the shares in Frontken Corp Bhd (fundamental: 2.2/3, valuation: 1.1/3) triggered our proprietary momentum algorithm yesterday for the first time this year.

The counter closed four sen or 7.14% higher at a record high of 60 sen, with 39.46 million shares done, compared with its 200-day average volume of 10.53 million shares. Its market capitalisation stood at RM632.06 million.

Frontken’s net profit rose 25.5% to RM6.3 million in the first quarter ended March 31, 2018 (1QFY18) from RM5.02 million a year ago, on an improved revenue and lower foreign exchange loss.

Quarterly revenue also grew 5.8% to RM70.92 million from RM67.06 million in 1QFY17.