This article first appeared in The Edge Financial Daily on September 3, 2019
Kejuruteraan Asastera Bhd (-ve)
TRADING of shares in Kejuruteraan Asastera Bhd (KAB) (fundamental: N/A, valuation: N/A) triggered our momentum algorithm last Friday for the seventh time this year. KAB went up one sen or 3.57% at 29 sen, after 5.48 million shares were traded, versus the counter’s 200-day average volume of 694,807.5 shares.
The group is principally involved in the provision of electrical and mechanical engineering services.
KAB’s net profit for the second quarter ended June 30, 2019 dropped 43% to RM1.88 million from RM3.27 million a year earlier, in line with revenue falling 12% to RM33.92 million from RM38.51 million.
As of last Friday, KAB was trading at 1.81 times its net book value.