This article first appeared in The Edge Financial Daily on March 9, 2018

Asdion Bhd (-ve)
SHARES in Asdion Bhd (fundamental: 0.75/3, valuation: 0/3) closed 4.5 sen or 19.15% higher at 28 sen yesterday, after 35.74 million shares were traded, exceeding its 200-day average volume of 488,679 shares.

Asdion provides integrated business and operation solutions, particularly to hospitality, recreational, supply chain logistics and data services businesses.

It is unclear what is pulling up the group’s shares as it has not made any significant announcements to Bursa Malaysia after announcing the company’s third-quarter financial year ended Dec 31, 2017 (3QFY18) in February.

In 3QFY18, Asdion narrowed its net loss to RM380,000 from RM1.26 million a year ago, on lower administration expenses.

But quarterly revenue fell 60.5% year-on-year to RM851,000 from RM2.16 million, following the disposal of its loss-making IT business subsidiary, which had contributed RM2.53 million in the previous year.