Acoustech Bhd (-ve)
TRADING of shares in property development and construction firm Acoustech Bhd (fundamental: 0.6/3, valuation: 0.9/3) triggered our proprietary momentum algorithm yesterday for the first time since April 2017. The stock closed down 1.5 sen or 3.26% at 44.5 sen, with 2.7 million shares traded compared with its 200-day average trading volume of 234,889 shares.

Acoustech reported a net profit of RM416,000 for its second quarter ended June 30, 2018, compared to a net loss of RM3.71 million in the corresponding quarter last year. Quarterly revenue grew 56% to RM12.54 million, from RM8.02 million previously.

However, for the cumulative six months ended June 30, 2018 (1HFY18), the group was still loss-making with a net loss of RM927,000, albeit lower when compared with the RM5.21 million net loss it recorded in 1HFY17. Revenue grew 8.6% year-on-year to RM18.75 million, from RM17.27 million last year.

Acoustech’s current portfolio comprises Johor projects, namely entrepreneur park Senibong 88 in Permas Jaya, cluster and detached factories dubbed Desa 88 in Plentong, and three-storey shop offices in Pengerang Avenue.