This article first appeared in The Edge Financial Daily on May 29, 2017 - June 4, 2017

Ranhill Holdings Bhd (+ve)
Shares in Ranhill Holdings Bhd (fundamental: N/A, valuation: N/A) triggered our momentum algorithm last Friday for the first time this year. The counter closed up one sen or 1.14% at 88.5 sen, with 4.11 million shares traded compared with its 200-day average trading volume of 501,221 shares.

Ranhill recorded a 127% leap in net profit to RM15.69 million for its first quarter ended March 31, 2017, mainly because it recorded a one-off Islamic medium term notes premium redemption in the previous year. Revenue grew by a marginal 2% to RM351.95 million on stronger contribution from its environment segment. This was due to higher volume of water consumption coupled with a wider customer base from new developments of housing and industrial areas. The utilities player said earlier that it was planning on expanding its water business into Southeast Asia via China-based strategic partner SIIC Environment Holdings Ltd’s investments in the region under the One Belt, One Road initiative.

It currently trades at 1.34 times its book value.