Stock With Momentum: Kelington Group Bhd

This article first appeared in The Edge Financial Daily, on August 8, 2018.
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Kelington Group Bhd (-ve)
TRADING of the shares in Kelington Group Bhd (fundamental: 2.10/3, valuation: 1.10/3) triggered our momentum algorithm yesterday for the second time this year.

The stock saw 2.03 million shares exchanged yesterday, compared with its 200-day average volume of 1.25 million shares.

The stock closed two sen or 2.6% higher at 80 sen yesterday. In late-June, the integrated engineering solutions provider said it had secured new orders worth RM104 million in that month, bringing the group’s new orders secured year-to-date to RM181 million.

The rise came from several contract wins and was primarily from its Ultra High Purity segment that provides specialised engineering services for semiconductor and electronics companies, Kelington said. Most of these new jobs were from Malaysia, followed by Singapore, China and Taiwan. Kelington said the new jobs should contribute positively to its performance for the financial years 2018 and 2019.