Kanger International Bhd (+ve)
TRADING of shares in Kanger International Bhd (fundamental: 0.65/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The counter closed up 0.5 sen or 11.11% at five sen yesterday after 6.05 million shares were traded, over five times more than its 200-day average volume of 1.08 million shares.

 
The group is a global integrated bamboo product manufacturer and supplier.

In its first quarter ended March 31, 2019 (1QFY19), Kanger more than tripled its net profit to RM1.37 million from RM362,000 it posted a year ago, as revenue jumped 42.7% to RM18.04 million from RM12.65 million on higher sales to the China market as a result of increased marketing efforts.

As at yesterday, Kanger was trading at 0.35 times its net book value.