This article first appeared in The Edge Financial Daily on April 18, 2018

Asdion Bhd (+ve)

SHARES in Asdion Bhd (fundamental: 0.75/3, valuation: 0/3) triggered our stocks with momentum algorithm yesterday for the eighth time this year. The stock closed 4.54% or 1.5 sen higher at 34.5 sen yesterday, with 20.12 million shares done versus the counter’s 200-day average of 1.68 million shares.

The group, an MSC-status company, provides integrated business and operation solutions, particularly to hospitality, recreational, supply chain logistics and data services businesses. It has operations in Singapore, Shanghai, Beijing, Thailand and Brunei.

For the third quarter ended Dec 31, 2017, the group reported a net loss of RM380,000, narrowing from a net loss of RM1.26 million in the previous year on lower administration expenses incurred. Quarterly revenue fell 61% to RM851,000 from RM2.16 million a year ago.

For the cumulative nine months, the group reported a net loss of RM1.48 million versus RM3.05 million a year ago, while revenue dropped 43% to RM3.39 million from RM5.98 million.