Uzma Bhd (-ve)
TRADING of shares in Uzma Bhd (fundamental: 0.45/3, valuation: 1.1/3) triggered our momentum algorithm last Friday for the second time this year.
The stock closed up two sen or 1.91% at RM1.07, with a market capitalisation of RM342.43 million. A total of 4.43 million shares changed hands versus the counter’s 200-day average trading volume of 978,746.5 shares.
The group provides geoscience and reservoir engineering, drilling, project and operational services to the oil and gas industry.
Last Thursday, Uzma secured a two-year contract for the provision of directional drilling services from Indonesia’s Pertamina Hulu Energi Onshore North West Java.
The contract secured by Uzma’s 95%-owned indirect subsidiary PT Cougar Drilling Solutions Indonesia, is for two years from Feb 25, 2019 to Feb 25, 2021. It comes with an extension option that is subject to SKK MIGAS’ approval.
https://www.theedgemarkets.com/article/stock-momentum-uzma-0
