Stock With Momentum: T7 Global

This article first appeared in The Edge Financial Daily, on March 6, 2019.
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T7 Global Bhd (-ve)
TRADING of shares in T7 Global Bhd (fundamental: 1.15/3, valuation: 0.3/3) triggered our Stocks with Momentum algorithm yesterday for the second time this week.

The counter closed up two sen or 3.85% at 54 sen, which gave it a market value of RM223.82 million. It saw 28.4 million shares traded, versus its 200-day average volume of 1.61 million shares.

T7 Global, previously known as Tanjung Offshore Bhd, is involved in the provision of engineering equipment packages, maintenance services and production platform services to the oil and gas industry. The group is also involved in construction, property and investment holding.

The group recorded a rise in net profit of 18% to RM4.33 million for the financial year ended Dec 31, 2018, from RM3.68 million a year ago, as revenue grew 3% to RM210.44 million from RM204.5 million.