Inch Kenneth Kajang Rubber Public Ltd Co (+ve)

Shares in Inch Kenneth Kajang Rubber Public Ltd Co (Incken) (fundamental: 1.2/3, valuation: 0.6/3) triggered our momentum algorithm yesterday for the second time this month after it saw 839,400 million shares traded.

Incken recently hit a three-year high of 84 sen but subsequently reversed gains before rising again over the past two days. The counter closed up one sen or 1.41% at 72 sen, giving the group a market capitalisation of RM294.34 million.

The oil palm cultivation, hospitality, rubber block manufacturing and building supplies company saw its net profit shrink to RM54,000 for the third quarter ended Sept 30, 2017, from RM5.54 million the year before, which was owed to higher expenses in its manufacturing division.

This was despite revenue for the quarter having climbed 6.47% year-on-year to RM6.67 million from RM4.55 million on higher room bookings by travel agents as well as higher sales of rubber blocks.