Stock With Momentum: Kejuruteraan Asastera

This article first appeared in The Edge Financial Daily, on August 15, 2019.
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Kejuruteraan Asastera Bhd (+ve)

Kejuruteraan Asastera Bhd (KAB) (fundamental: N/A, valuation: N/A), which made it into our Stocks with Momentum list yesterday for the second time this month, closed two sen or 8.33% higher at 26 sen, after 10.17 million shares were traded, near 18 times the counter’s 200-day average 570,994 shares.

The group is principally involved in the provision of electrical and mechanical engineering services.

KAB’s net profit for the first quarter ended March 31, 2019 inched up 0.42% to RM2.37 million from RM2.36 million a year earlier, thanks to lower finance costs, despite revenue falling 5.28% to RM31.07 million from RM32.8 million.

As of yesterday, KAB shares were trading at 1.63 times their net book value.