Stock With Momentum: Kim Teck Cheong Consolidated

TheEdge Thu, Feb 13, 2020 10:22am - 4 years View Original


Kim Teck Cheong Consolidated Bhd (-ve)
Kim Teck Cheong Consolidated Bhd (KTC) (fundamental: 0.6/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the second time this month.

The counter closed at 20.5 sen yesterday — its highest in over two years — after rising 1.5 sen or 7.89% from the day before. It saw some 8.99 million shares done, 15 times more than its 200-day average volume of 586,469 shares.

On Jan 22, KTC said it has obtained the exclusive right to operate the business of manufacturing bread, cakes and ice cream under the Gardenia trademark in Sabah, Sarawak and Indonesia, after inking two separate licence agreements with the registered trademark holders. Both agreements are effective for an initial 10-year period, and shall be automatically renewed for a further 10 years.

KTC said both agreements are expected to contribute positively to its earnings for the financial year ending June 30, 2020 and throughout the tenure of the deals.

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