This article first appeared in The Edge Financial Daily on January 30, 2019
Mega First Corp Bhd (-ve)
TRADING of shares in Mega First Corp Bhd (fundamental: 1.45/3, valuation: 0.8/3) triggered our momentum algorithm yesterday for the first time this year.
At the closing bell yesterday, Mega First’s share price settled 16 sen or 4.36% higher at RM3.83, giving the counter a market capitalisation of RM1.52 billion. A total of 1.16 million shares were traded, versus the 200-day average trading volume of 96,785.5 shares.
For third quarter ended Sept 30, 2018, the group’s revenue grew by 4.6% to RM219.06 million from RM209.34 million a year ago. The higher revenue was mainly attributable to improved performance in its resources division. Revenue generated from the division increased by RM8.5 million to RM36.4 million, with a marginal increase of RM1 million to RM164 million in construction revenue from Don Sahong Hydropower Project.
As at yesterday, its shares were trading at 1.11 times their net book value.