Stock With Momentum: SMTrack Bhd

This article first appeared in The Edge Financial Daily, on June 13, 2019.
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SMTrack Bhd (-ve)
Trading of shares in SMTrack Bhd (fundamental: 1.2/3, valuation: 0/3) triggered our momentum algorithm for the sixth time this year and the second time this month. The last time that the counter triggered the algorithm was on Tuesday.

 
The counter closed 5.56% or one sen higher at 19 sen yesterday — with a market capitalisation of RM26.8 million.

There were some 16.58 million shares traded yesterday, as compared with the counter’s 200-day average volume of 1.83 million shares.

On April 13, the group announced that it had entered into a memorandum of understanding with Dexma Express Sdn Bhd to explore potential investment opportunities in courier Citilinks’ Malaysia’s operation.

SMTrack will purchase 60% of Dexma for RM2.8 million — with the latter renaming itself as Citilink Aviation Malaysia Sdn Bhd.