Stock With Momentum: TRC Synergy

-A +A
This article first appeared in The Edge Financial Daily, on April 5, 2017.

 

TRC Synergy Bhd (-ve)
SHARES in TRC Synergy Bhd (fundamental:1.4/3, valuation: 1.4/3) triggered our momentum algorithm yesterday as the stock closed four sen or 6.03% higher at 62 sen, with a market capitalisation of RM295.51 million.

A total of 18.11 million shares were traded compared with a 200-day average trading volume of 895,131 shares.

The construction company bagged a contract on March 13 for the mass rapid transit Line 2 Sungai Buloh-Serdang-Putrajaya project from Mass Rapid Transit Corp Sdn Bhd for RM858.18 million.

In its filing with Bursa Malaysia, the company said the contract under Package V205 from Kampung Muhibbah to Serdang Raya, was awarded to its wholly-owned subsidiary Trans Resource Corp Sdn Bhd last Friday.

Barring unforeseen circumstances,TRC said that the board opined that the project will contribute positively to the earnings and earnings per share of the TRC Group in the future.