Brite-Tech Bhd (-ve)
Shares in Brite-Tech Bhd (fundamental: 2.7/3, valuation: 1.4/3) closed up three sen or 11.32% at 29.5 sen yesterday, giving it a market capitalisation of RM74.34 million. The counter’s trading triggered our momentum algorithm for the first time this year.

A total of 879,000 shares were exchanged, exceeding the stock’s 200-day average volume of 27,661.5 shares.

The company’s share price has been rather stagnant and thinly traded since the start of the year, mostly hovering between 25 sen and 30 sen, before the uptick in activity seen during yesterday’s session.

It was unclear what was driving activity in the counter, as there had been a lack of news on Brite-Tech. The company has not made any filing with Bursa Malaysia for about two months.

For the second quarter ended June 30, 2018, the company posted a 15% decline in net profit to RM936,000 from RM1.1 million a year earlier, attributed to higher expenses, while revenue fell 9% to RM6.04 million from RM6.64 million.