K-One Technology Bhd (+ve)
TRADING of shares in K-One Technology Bhd (fundamental: 2.25/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the third time this month.

The counter closed down 0.5 sen or 1.54% at 32 sen, with a market capitalisation of RM166.13 million. A total of 21.13 million shares were crossed compared to the counter’s 200-day average trading volume of 2.62 million shares.

On Nov 5, K-One announced its financial results for the third quarter ended Sept 30, 2018, reporting an 82% surge in its net profit to RM2.02 million from RM1.11 million a year earlier, although revenue was rather flat at RM20.09 million. For the first three quarters of financial year 2018, the company returned to the black with a net profit of RM3.53 million, versus its net loss of RM6.66 million a year earlier.

The company is also seeking the approval of its shareholders at a meeting next month for its proposed one-for-five bonus issue of up to 130.16 million new shares, along with a one-for-four issuance of up to 195.24 million free warrants.