KUALA LUMPUR (June 17): Hong Leong IB Retail Research (HLIB) said Kronologi Asia Bhd is involved in providing on-site and off-site enterprise data management (EDM) and data storage solutions to Asian businesses and has been growing in organically by acquiring Quantum Storage Hong Kong and India in FY18, contributing towards stronger 1Q19 results.

In a technical tracker note today, HLIB said moreover, Kronologi has completed the recent acquisition of Sandz Solution, which came with a profit warrant of US$1.5 million for FY19, hence the growth momentum should sustain.

“Technically, the stock is forming a support around 52 sen and could be poised for a trendline breakout above 56.5 sen to retest 61 sen- 63 sen.

“Cut loss at 52 sen,”it said.