TRC Synergy Bhd (-ve)
TRADING of shares in TRC Synergy Bhd (fundamental: 1.25/3, valuation: 2/3) triggered our momentum algorithm yesterday for the first time this year.
The counter closed up 5.5 sen or 10.28% at 59 sen yesterday with a market capitalisation of RM283.49 million, with 9.41 million shares traded, higher than the counter’s 200-day average volume of 656,847 shares.
TRC Synergy is primarily in construction and property development.
Last month, TRC Synergy’s wholly-owned subsidiary Trans Resources Corp Sdn Bhd bagged a RM498.7 million contract from Putrajaya Holdings Sdn Bhd, the master developer of Putrajaya, to develop an integrated development at Plot 8MD3 in Precinct 8, Putrajaya.
With the addition of the contract, which will be completed within 57 months, TRC Synergy’s order book rose to RM3 billion.
As at yesterday, its shares were trading at 0.69 times their net book value.