This article first appeared in The Edge Financial Daily on May 8, 2017
Seremban Engineering Bhd (+ve)
Shares in Seremban Engineering Bhd (fundamental: 0/3, valuation: 0.3/3) rose 8.11% or 4.5 sen to 60 sen last Friday, after 1.25 million shares were traded, significantly higher than its 200-day average of 92,626 shares.
The company recorded a net profit of RM1.07 million for the second quarter ended Dec 31, 2016, as opposed to a net loss of RM2.97 million a year ago, which it said was mainly due to profit contribution from projects, with better management control, and recovery of impaired debts.
Revenue grew a marginal 1.4% to RM22.26 million from RM21.96 million.
At its current price, the machinery and equipment fabricator has a market capitalisation of RM47.81 million.