Stock With Momentum: TRC Synergy

This article first appeared in The Edge Financial Daily, on January 23, 2019.
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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 third time this year.

The counter closed unchanged at 58.5 sen, with a market capitalisation of RM281.09 million, after 5.68 million shares were traded. The stock’s 200-day average trading volume was 723,821 shares.

TRC Synergy is primarily involved in construction and property development. Last month, its wholly-owned 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 contract, to be completed within 57 months, TRC Synergy’s order book rose to RM3 billion.