This article first appeared in The Edge Financial Daily on April 13, 2018

Asdion Bhd (-ve)
SHARES in Asdion Bhd (fundamental: 0.75/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second consecutive day this week.

Asdion closed 0.5 sen or 1.96% higher at 26 sen, after 8.91 million shares were traded, versus the counter’s 200-day average volume of 1.41 million shares. The group’s market capitalisation stood at RM30.23 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, due to the disposal of its loss-making IT business subsidiary, which had contributed RM2.53 million the previous year.

As of yesterday, Asdion shares were trading at 2.91 times net book value.