This article first appeared in The Edge Financial Daily on September 7, 2017 - September 13, 2017

Perak Transit Bhd (-ve)
SHARES in Perak Transit Bhd (fundamental: N/A/3, valuation: N/A/3) triggered our proprietary momentum algorithm yesterday for the first time this year.

The counter closed up one sen or 2.78% at 37 sen, after 37.3 million shares were exchanged, six times its 200-day average volume of 6.18 million shares.

The group is principally involved in the operation and provision of transportation services and integrated terminal complexes. It operates Terminal Amanjaya — an integrated public transportation terminal in Ipoh — and stage and express buses.

For the second quarter ended June 30, 2017, the group’s net profit jumped nearly three times year-on-year (y-o-y) to RM7.72 million from RM2.78 million, as revenue grew 52.3% to RM28.22 million from RM18.53 million.

Its cumulative first-half net profit jumped 92.7% y-o-y to RM13.8 million from RM7.16 million, while revenue grew 45.1% to RM55.03 million from RM37.93 million. Perak Transit is trading at 2.02 times its net book value.