K Seng Seng Corp Bhd (-ve)
SHARES in K Seng Seng Corp Bhd (KSSC) (fundamental: 1.3/3, valuation: 2.6/3) triggered our proprietary momentum algorithm yesterday for the first time this year.

The counter closed up seven sen or 13.33% at 59.5 sen, giving it a market capitalisation of RM56.16 million. A total of 20.85 million shares were traded, versus its 200-day average trading volume of 266,026.5 shares.

For its fourth quarter ended Dec 31, 2017, KSSC’s net profit surged 68.4% to RM2.61 million from RM1.55 million a year earlier.

Revenue for the quarter jumped 48.3% to RM39.77 million from RM26.82 million a year ago, mainly due to a 341.44% increase in revenue contribution from its engineering works segment.

The increase in the revenue contribution was principally attributable to completion of fabrication and installation of double former glove dipping lines under work in progress which was recognised in the quarter under review. As at yesterday, KSSC was trading at 0.71 times its book value.