KUALA LUMPUR (July 2): Shares in PDZ Holdings Bhd, which returned to the black in the first quarter ended March 31, 2020 (1QFY20), rose 50% or 2.5 sen to 7.5 sen per share in the afternoon session as trading volume surpassed the counter’s 200-day average by over 34 times to 116.55 million units.

At the close of trading, the logistics stock pared some gains to wrap up the day at seven sen — its highest year to date (YTD) — up 40% or two sen from yesterday’s close, with 125.2 million shares changing hands, a record high for the counter. It was the fifth most actively traded stock across Bursa Malaysia today.

The latest closing price gave the container liner a market capitalisation of RM62.06 million. YTD, the stock’s value has increased by four sen or 133%.

Earlier today, PDZ emerged on AbsolutelyStocks’ daily list of stocks with momentum, which highlights stocks with a build-up in trading volume and price, using a proprietary algorithm.

For 1QFY20, the firm raked in a net profit of RM130,000, compared to a net loss of RM437,000 for 1QFY19, mainly due to higher revenue and lower administrative expenses. Revenue rose to RM1.22 million from RM1.04 million on higher volume transported.

Against a backdrop of the Covid-19 pandemic, the group said it will continue to monitor and strive for efficient cost management of its business, while continuing to look for related business to provide enhancement to PDZ’s existing and future earnings.

PDZ is primarily engaged in the container liner business. The group operates six vessels, covering domestic and regional trade between Malaysia, Brunei, Singapore and Myanmar, according to its website.

Apart from operating vessels, the group also engages in fixed slot arrangements with other liners that provide services between China's main ports, as well as operate on a non-vessel operation (NVO) basis, covering ports in Southeast Asia and the Indian subcontinent.