AT Systematization Bhd (+ve)
SHARES in AT Systematization Bhd (fundamental: 0.95/3, valuation: 0.3/3) triggered our momentum algorithm for the first time this year, after trades of 20.26 million shares, compared with its 200-day average volume of 1.71 million shares. The counter closed up 0.5 sen or 8.33% at 6.5 sen last Friday.
Earlier this year, the company announced the securement of a 21-year concession from the Sustainable Energy Development Authority Malaysia to supply 300 kilowatts (kW) of renewable energy worth RM7 million to Tenaga Nasional Bhd (TNB).
The group intends to construct a 300kW solar power plant on its existing factory in Penang and expects to sign the renewable power purchase agreement with TNB, but has not announced anything yet so far.
The stock’s trailing 12-month price to net asset value stood at 1.24 times. The company did not pay dividends in its previous financial year.