This article first appeared in The Edge Financial Daily, on May 18, 2016.
Brite-Tech Bhd (-ve)
Brite-Tech Bhd (fundamental: 2.7/3, valuation: 1.4/3) triggered our momentum algorithm for the first time yesterday as the stock surged by 11.54% to its six-month high of 29 sen with 507,700 shares traded. This was despite the lack of new announcement on Bursa.
Its fourth financial quarter ended Dec 31, 2015 (4QFY15) net profit jumped by 75.2% to RM1.79 million from RM1.02 million in the corresponding quarter a year ago, mainly due to the gain on fair value adjustment of investment properties of RM920,000. Revenue for the quarter increased by 9.35% to RM6.83 million from RM6.24 million in 4QFY14.
Brite-Tech is an integrated water purification and wastewater treatment solutions provider. Amongst the services it provides include analytical testing and environmental monitoring for air, noise, water and wastewater.
The group is trading at a trailing price-earnings ratio of 15.55 times and is 1.37 times its book value with a market capitalisation of RM73.08 million.
BTECH (0011) - Stock With Momentum: Brite-Tech http://www.theedgemarkets.com/en/node/279834
