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Stock With Momentum: George Kent
by Cals Thu 10 Dec 2015, 22:26
Stock With Momentum: George Kent
By Asia Analytica / The Edge Financial Daily | December 10, 2015 : 10:36 AM MYTThis article first appeared in The Edge Financial Daily, on December 10, 2015.
[size=16]George Kent (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 2.10) (-ve)
SINCE GKent (Fundamental: 2.1/3, Valuation: 1.4/3) was first picked by our momentum algorithm on March 26, its share price has risen by 33.6% to close at RM1.71 yesterday.
This was partly due to the appointment of its joint venture company as the project delivery partner (PDP) for the RM9 billion Light Rail Transit 3 (LRT3) project. The PDP for the 36-km line connecting Bandar Utama and Klang will earn a management fee of 6% of the total contract value. GKent and MRCB ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.30) each owns a 50% stake in the JV.
GKent, an engineering company which specialises in water-related projects, made inroads into the construction sector when its JV with Lion Pacific was awarded the RM1.1 billion Ampang Line LRT extension project in 2012.
For 2QFYJan2016, revenue rose 52.8% y-y to RM114.7 million while net profit jumped 39.0% to RM8.5 million, due mainly to higher contribution from the engineering segment and forex gain of RM2.7 million.
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