Asdion Bhd (-ve)
Trading of the shares in Asdion Bhd (fundamental: 0.8/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the first time since June 2018, pushed the counter one sen or 5.13% higher to 20.5 sen yesterday.
It saw six million shares traded, higher than its 200-day average volume of 4.49 million shares.
For the second quarter ended Sept 30, 2018, Asdion reported a wider net loss of RM612,000 versus RM598,000 a year ago, due to higher other expenses and finance cost.
Its quarterly revenue, however, jumped to RM3.71 million, three times the RM1.12 million it recorded a year ago, on the back of higher trading of stainless steel by Renox Group.
For the cumulative six months ended Sept 30, 2018, its net loss widened to RM1.23 million, from RM1.1 million a year ago, despite a surge in revenue to RM7.27 million from RM2.54 million.
At the current share price, Asdion is trading at 2.78 times its book value.