This article first appeared in The Edge Financial Daily on April 5, 2019

WCE Holdings Bhd (+ve)

TRADING of shares in WCE Holdings Bhd (fundamental: 1.05/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the second time this year. The counter closed up 3.5 sen or 6.42% at 58 sen, with a market capitalisation of RM581.59 million. A total of 3.77 million shares were done, versus the counter’s 200-day average trading volume of 184,974.5 shares.

The group, formerly known as Kumpulan Europlus Bhd, is principally involved in the business of construction, management and tolling of highway operation, construction contracting, leasing, management services, and investment holding.

WCE’s net profit grew 7.4% to RM10.34 million for the third quarter of financial year 2019 ended Dec 31, 2018 from RM9.62 million a year ago, on lower taxation.

As at yesterday, WCE was trading at 0.83 times its book value.