This article first appeared in The Edge Financial Daily on April 12, 2018

Asdion Bhd (-ve)
SHARES in Asdion Bhd (fundamental: 0.75/3, valuation: 0/3) triggered our momentum algorithm yesterday for the sixth time this year.

Asdion closed 2.5 sen or 10.87% higher at 25.5 sen, after 17.77 million shares were traded, versus the counter’s 200-day average volume of 1.32 million shares. The group’s market capitalisation stood at RM28.49 million.

Asdion is an MSC-status company that provides integrated business and operations solutions, particularly to hospitality, recreational, supply chain logistic and data services businesses.

In its third financial quarter ended Dec 31, 2017 (3QFY18), Asdion narrowed its net loss to RM380,000 from RM1.26 million a year ago, on lower administration expenses.

Quarterly revenue, however, fell 60.5% to RM851,000, from RM2.16 million in 3QFY17, as the previous year benefited from the disposal of its loss-making IT business subsidiary, which contributed RM2.53 million to its books.