BTM Resources Bhd (-ve)
TRADING of shares in BTM Resources Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The counter last triggered our algorithm on April 18, 2017. The counter closed 19.05% or two sen higher to 12.5 sen, with a market capitalisation of RM17.67 million. A total of 427,900 shares changed hands compared with the counter’s 200-day average trading volume of 130,913 shares.
For the first quarter ended March 31, 2019 (1QFY19), the group’s net loss widened to RM1.83 million, from RM426,000 a year ago. Quarterly revenue declined 47.4% year-on-year to RM3.62 million for 1QFY19. For the weak quarterly performance, the group blamed lower revenue and higher operating overheads from its manufacturing operations.