Stock With Momentum: MCT

This article first appeared in The Edge Financial Daily, on January 6, 2020.
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MCT Bhd (-ve)

MCT Bhd (fundamental: 1.4/3, valuation: 1.5/3) closed half a sen or 1.52% higher at 33.5 sen last Friday, after 44.97 million shares were traded, compared with the counter’s 200-day average trading volume of 2.42 million shares.

Formerly known as GW Plastics Holdings Bhd, MCT is now mainly involved in property development and construction.

For the cumulative nine months ended Sept 30, 2019, the group booked a net profit of RM26.88 million on a revenue of RM350.46 million, largely driven by an upswing in its overall construction progress to hand over 3,000 units across four projects by the first half of 2020.

MCT said in its latest result announcement the outlook is positive as it is planning several key launches in the Cybersouth project by the first quarter of this year.