Stock With Momentum: Ideal Jacobs (M) Corp

This article first appeared in The Edge Financial Daily, on October 3, 2018.
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Ideal Jacobs (M) Corp Bhd (-ve)
TRADING of shares in Ideal Jacobs (M) Corp Bhd (fundamental: 0.85/3, valuation: 0.0/3) triggered our momentum algorithm yesterday for the first time this year.

Ideal Jacobs shares closed up one sen or 2.7% at 38 sen, with 9.95 million shares traded versus the counter’s 200-day average volume of 1.33 million shares. Its market capitalisation stood at RM932.76 million.

The group is principally involved in integrated facilities management and construction activities.

Last month, Ideal Jacobs won a RM71 million contract to build 301 single-storey link houses in Sabah under the 1Malaysia Civil Servants Housing Programme.

Ideal Jacob said its wholly-owned unit Widad Builders Sdn Bhd accepted the letter of award from developer Pemajuan Ilham Enterprise Sdn Bhd to be the project’s main contractor.