Saturday 27 Apr 2024
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This article first appeared in The Edge Financial Daily, on September 13, 2016.

 

Pecca Group Bhd (-ve)

SHARES in Pecca Group Bhd (fundamental: N/A, valuation: N/A) triggered our momentum algorithm for the third time this year. The last time it triggered the algorithm was on July 20.

The counter closed four sen or 2.06% higher at RM1.98 last Friday, after some 2.004 million shares were traded.

In comparison, it saw an average volume of only 1,481,961 shares in the last 200 days.

Pecca said its 60%-owned subsidiary Pecca Leather Aviation Services Sdn Bhd had obtained the green light from the Department of Civil Aviation (DCA) to undertake more leather upholstery work in the aviation industry.

During its listing in April, Pecca executive director Tan Jin Sun said the group had secured a licence from the DCA to perform refurbishment of aviation passenger seats.

Pecca has completed a project for a private jet, but had yet to do work for a commercial aircraft.

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