Stock With Momentum: WZ Satu

This article first appeared in The Edge Financial Daily, on January 18, 2019.
-A +A

WZ Satu Bhd (+ve)

TRADING of shares in WZ Satu Bhd (fundamental: 0.55/3, valuation: 1.8/3) triggered our momentum algorithm yesterday for the first time this year.

WZ Satu closed two sen or 6.67% higher at 32 sen, after 2.53 million shares were traded, versus the counter’s 200-day average volume of 288,724.5 shares.

The group is primarily involved in civil engineering, construction, oil and gas, mining operations, and the manufacturing and trading of steel products.

Last month, WZ Satu Bhd’s wholly owned unit WZS BinaRaya Sdn Bhd bagged a RM133.5 million subcontract job to construct bridges from Genuang to Paloh for the Gemas-Johor Baru electrified double track project.

The project is expected to be completed by May 17, 2020.

As of yesterday, WZ Satu shares were trading at 0.62 times their net book value.