Stock With Momentum: KNM Group

This article first appeared in The Edge Financial Daily, on July 1, 2019.
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KNM Group Bhd (+ve)
TRADING of shares in KNM Group Bhd (fundamental: 0.35/3, valuation: 0.9/3) triggered our proprietary momentum algorithm last Friday for the second time this year.

Its share price went up 6.5 sen or 34.21% to 25.5 sen last Friday with a market capitalisation of RM658.08 million, with 332.99 million shares traded. The counter’s trading volume is higher than its 200-day average volume of 18.2 million shares.

The group is principally engaged in the manufacturing of process equipment and turnkey solutions catering to international oil, gas, petrochemicals, energy and minerals processing companies and global engineering contractors.

On May 27, KNM announced it had secured three contracts in Vietnam, Belgium and Johor worth approximately RM97.72 million combined.

As at last Friday, KNM was trading at 0.1 times its net book value.