This article first appeared in The Edge Financial Daily on January 3, 2018 - January 9, 2018
CabNet Holdings Bhd (-ve)
SHARES in CabNet Holdings Bhd (fundamental: -/3, valuation: -/3), which is mainly in building management solutions, triggered our momentum algorithm yesterday for the first time since its ACE Market debut last May.
The stock closed unchanged at 65 sen, after 154,000 shares were traded, compared with its 200-day average trading volume of 585,165.
In its third quarter ended Sept 30, 2017, CabNet’s net profit was RM1.71 million, with revenue at RM17 million; its net profit for the first nine months of financial year 2017 came in at RM4.12 million, on a revenue of RM39.08 million.
It said existing and potential order book from current sales pipeline remains positive, but plans to pursue opportunities for more projects outside Johor. It also warned of rising cost going forward, with the expiry of pioneer status for its subsidiary granted by the ministry of international trade and industry, which means an end to its tax exemption benefit.
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