Rohas Tecnic Bhd (+ve)

TRADING of shares in Rohas Tecnic Bhd (fundamental: 0.65/3, valuation: 1.4/3) triggered our momentum algorithm last Friday for the first time this year. The stock gained one sen or 1.8% at 56.5 sen last Friday, with 966,000 shares traded, higher than its 200-day average volume of 251,870 shares.

The group is involved in manufacture, design, fabrication, and erection of power transmission towers and telecommunications towers and design and fabrication of electrical substation structures.

For the second quarter ended June 30, 2019, Rohas’ net profit leapt 86% to RM11.21 million from RM6.04 million in the previous corresponding quarter. Quarterly revenue rose 41% to RM127.02 million from RM90.34 million previously.

As at last Friday, Rohas was trading at 0.81 times its net book value.