Stock With Momentum: Quality Concrete Holdings Bhd

This article first appeared in The Edge Financial Daily, on December 12, 2019.
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Quality Concrete Holdings Bhd (-ve)
QUALITY Concrete Holdings Bhd (fundamental: 0/3, valuation: 0.9/3), which closed 22.73% or 25 sen higher at its more-than-three-year high of RM1.35 yesterday, made it into our Stocks with Momentum list for the second time this year.

The gain came after its share price hit limit-up on Tuesday, on an announcement that it had secured a 10-year road maintenance contract in Sarawak. In two days, the counter gained 67.7% or 54.5 sen from 80.5 sen.

At the closing bell, the counter saw some 300,200 shares traded, about 75 times higher than its 200-day average trading volume of 3,988 shares.

The 10-year road maintenance contract worth RM34.64 million per annum was awarded to Quality Concrete’s 70%-owned unit QCCE and Asas Ulung JV Sdn Bhd by the Sarawak government. The contract tenure is from Jan 1, 2020 to Dec 31, 2020.