Stock With Momentum: Revenue Group

This article first appeared in The Edge Financial Daily, on December 31, 2019.
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Revenue Group Bhd (-ve)
TRADING of shares in Revenue Group Bhd (fundamental: N/A, valuation: N/A) triggered our momentum algorithm yesterday for the sixth time this year. The counter closed nine sen or 6.82% higher at RM1.41 yesterday, after some 10.23 million shares were traded.

Year to date, Revenue Group’s share price has appreciated by 72% from 82 sen on Jan 2 this year.

Earlier this month, the cashless payment solutions provider said it eyes more partnerships with financial institutions in the current financial year ending June 30, 2020.

Revenue Group managing director cum group chief executive officer Eddie Ng Chee Siong told the media that the group has deployed 1,600 units of rented smart terminals to OCBC Bank (Malaysia) Bhd since inking the partnership two weeks ago.