Radiant Globaltech Bhd (+ve)
TRADING of shares in Radiant Globaltech Bhd (fundamental: 0/3, valuation: 0/3) triggered our momentum algorithm last Friday for the second time this year.

The ACE Market-listed retail technology solutions provider’s share price closed unchanged at 27.5 sen, with a market capitalisation of RM144.43 million. The counter has gained 19.56% compared with its initial public offering price of 23 sen. Some 3.01 million shares were traded, about four times compared with their 200-day average trading volume of 772,919 shares.

Radiant Globaltech made its debut on Bursa Malaysia on July 24, 2018. Its products and services are mainly used by businesses in the retail sector to automate their operations, to increase efficiency and reduce costs.

Its net profit for the cumulative six months ended June 30, 2019 (1HFY19) fell 8% to RM1.81 million from RM1.96 million a year ago as revenue declined 7.7% year-on-year to RM30.07 million from RM32.58 million for 1HFY18.