Kronologi Asia Bhd (-ve)
Trading of shares in ACE Market-listed Kronologi Asia Bhd (fundamental: 1.7/3, valuation: 1.4/3) triggered our proprietary momentum algorithm yesterday for the second time this month.
A total of 38.96 million shares crossed, compared with its 200-day average of 4.91 million shares, before the counter closed three sen higher at 87 sen, bringing a market capitalisation of RM425.67 million.
Kronologi, an on-site and off-site enterprise data management and data storage solutions firm, has planned to roll out new solutions related to artificial intelligence and the Internet of things this year across all markets it is servicing.
The group, which has a diversified customer base of 650 clients, registered a 35% year-on-year jump in net profit to RM6.78 million for the third quarter ended Sept 30, 2019 (3QFY19) from RM5.01 million, while revenue almost doubled to RM81.66 million from RM41.98 million from 3QFY18.