This article first appeared in The Edge Financial Daily on May 3, 2017

AbleGroup Bhd (+ve)

SHARES in AbleGroup Bhd (fundamental: 0.8/3, valuation: 0.9/3), which triggered our momentum algorithm yesterday for the first time this year, jumped seven sen or 58.3% to settle at 19 sen.

It was the seventh most actively-traded counter on the local bourse yesterday, with some 77.32 million shares being exchanged, compared with its 200-day average volume of just 667,450 shares.

Formerly known as Gefung Holdings Bhd, AbleGroup is involved in the processing, trading, exporting and contract workmanship of high quality marble and granite slabs. The group diversified into property development in 2012.

Its net loss narrowed to RM359,000 in the fourth quarter ended Dec 31, 2016, from RM884,000 a year ago, on cost savings from lower head count, and absence of impairments on trade receivables and slow moving inventories.

Revenue fell 67.98% to RM2.27 million from RM7.09 million, due to lower progressive claims as projects near completion.