Minetech Resources Bhd (-ve)
SHARES in Minetech Resources Bhd (fundamental: 0.95/3, valuation: 0.3/3) closed up half a sen or 3.6% at 14.5 sen yesterday, with some 18.1 million shares traded, compared with its 200-day average trading volume of 2.2 million shares.
The group is involved in civil engineering and construction, mainly rock drilling and blasting, as well as general civil and infrastructural work.
Minetech’s net loss expanded a little to RM8.47 million for the nine months ended Dec 31, 2016 (9MFY17), from a net loss of RM8.22 million a year ago, on lower contract production revenue and high overheads.
Revenue also dropped by 20% to RM68.69 million in 9MFY17, from RM85.38 million a year ago.
The stock is currently trading at 1.1 times its book value.