Stock With Momentum: Techfast Holdings

TheEdge Fri, Feb 14, 2020 10:13am - 4 years View Original


Techfast Holdings Bhd (-ve)
TRADING of shares in Techfast Holdings Bhd (fundamental: 2.35/3, valuation: 0.5/3) triggered our momentum algorithm yesterday for the first time this year. The last time it appeared on our Stocks with Momentum list was Dec 31, 2019.

Techfast shares closed down half a sen or 0.93% to 53.5 sen yesterday. The counter was heavily traded, with 22.91 million shares done, 10 times more than its 200-day average volume of 2.15 million shares.

The company specialises in the manufacturing and distribution of high-precision computer components, electronic hardware, and telecommunication components.

Techfast’s net profit slipped 4.36% for the third quarter ended Sept 30, 2019 to RM1.34 million from RM1.4 million a year ago, mainly due to higher tax expenses and operating expenses, which offset a 5.31% rise in revenue to RM8.25 million from RM7.84 million for the previous year.

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