WTK Holdings Bhd (+ve)
TRADING of shares in WTK Holdings Bhd (fundamental: 1.85/3, valuation: 1.2/3) triggered our proprietary momentum algorithm yesterday for the third time this month.
A total of 5.82 million shares crossed yesterday, exceeding the counter’s 200-day average of 505,476 shares, before it closed five sen or 8.55% higher at 63.5 sen, bringing it a market capitalisation of RM303.2 million.
WTK recently announced that it returned to the black in its financial year 2018 (FY18) ended Dec 31, 2018 — after two years in the red — with a net profit of RM81.1 million. Revenue, meanwhile, grew 3.8% to RM822.16 million, from RM792.28 million in FY17.
The group — involved in timber, plantation, adhesive tape and oil and gas sectors, however, is maintaining a cautious outlook on its business activities in view of the prolonged uncertainties over global economy and the volatility of commodity prices.