This article first appeared in The Edge Financial Daily, on April 21, 2016.
Stock With Momentum: OCK Group Bhd (-ve)
Telecommunications network services provider OCK Group Bhd (fundamental:2.40/3, valuation:1.40/3) triggered our momentum algorithm yesterday, the fifth time this year. It saw some 2.68 million shares change hands yesterday, a little more than double its 200-day average volume of 1.23 million shares.
Yesterday, the counter rose one sen or 1.22% to close at 83 sen. Last month, major shareholders, Lembaga Tabung Angkatan Tentera (LTAT) and Ooi Chin Khoon, disposed of some 104,700 and 7.85 million shares in OCK, respectively.
Based on bourse filings, LTAT still holds 13.64% of the group. It is the second major shareholder after Aliran Armada Sdn Bhd.
The group’s net profit increased by 58.33% to RM24.68 million in the financial year ended Dec 31, 2015 (FY15), from RM15.59 million in FY14. The group’s revenue for the year also went up 69.87% to RM318.57 million, from RM185.89 million a year ago.
OCK (0172) - Stock With Momentum: OCK Group
http://www.theedgemarkets.com/my/article/stock-momentum-ock-group-0
