Stock With Momentum: Uchi Technologies

TheEdge Tue, Jun 04, 2019 09:41am - 4 years View Original


Uchi Technologies Bhd (-ve)

Uchi Technologies Bhd (fundamental: 3/3, valuation: 1.5/3) made it into our Stocks with Momentum list yesterday for the first time this year. Its shares closed seven sen or 2.44% lower at RM2.80, after 1.89 million shares were traded, about four times the counter’s 200-day average trading volume of 466,908 million shares.

The group does original design manufacturing, specialising in designing electronic control systems primarily for consumer and industrial electrical and electronic appliances industries.

Uchi’s net profit for the first quarter ended March 31, 2019 rose 15.6% to RM15.93 million, from RM13.79 million in the previous corresponding quarter, mainly due to higher demand and an appreciation of the US dollar against ringgit. Revenue grew 12.2% to RM35.09 million from RM31.27 million.

Cautiously optimistic, Uchi anticipates a low single-digit revenue growth in US dollar for FY19, given an uncertain economic climate amid a heightened trade protectionism.

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