Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on January 20, 2020

Ancom Logistics Bhd (+ve)

TRADING of shares in ACE Market-listed Ancom Logistics Bhd (valuation: 0.3/3, fundamental: 1.15/3) triggered our momentum algorithm for the third time this month as trading volume jumped to 4.56 million shares last Friday — 18 times its 200-day average of 250,061 shares.

The counter lost one sen or 12.5% to seven sen, with a market capitalisation of RM33.13 million.

Ancom Logistics provides transportation services for bulk liquid, and operates a bulk liquid terminal in Port Klang. It is a sister company to Main Market-listed chemical products manufacturer Nylex (M) Bhd, through its holding company Ancom Bhd.

The group has been loss-making for five consecutive financial years. For the first quarter ended Aug 31, 2019, Ancom Logistics’ net profit rose 19.38% to RM191,000 or 0.04 sen per share, from RM160,000 the year before. Quarterly revenue rose 13.5% to RM7.87 million, from RM6.93 million.

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