Kejuruteraan Asastera Bhd (-ve)
TRADING of shares in Kejuruteraan Asastera Bhd (KAB) (fundamental: NA, valuation: NA) triggered our momentum algorithm last Friday for the fourth time this month.
The counter closed one sen or 3.28% higher at 31.5 sen last Friday, with a market capitalisation of RM111.16 million. It has appreciated by 28% from its initial public offering price of 25 sen. The counter saw some 14.44 million shares traded, 18 times more than its 200-day average volume of 779,960.5 shares.
The electrical and mechanical engineering specialist has said it is looking into mechanical engineering and energy efficiency solutions as new revenue streams for the company in the near future.
KAB’s net profit for the second quarter ended June 30, 2019 dropped 43% to RM1.88 million from RM3.27 million a year earlier, as revenue fell 12% to RM33.92 million from RM38.51 million.