This article first appeared in The Edge Financial Daily on April 9, 2019

DPS Resources Bhd (-ve)
TRADING of shares in DPS Resources Bhd (fundamental: 0.9/3, valuation: 1.25/3) triggered our proprietary momentum algorithm yesterday for the first time this year.

The counter saw 9.36 million shares change hands versus its 200-day average trading volume of 322,278.5 shares.

The group’s shares rose half a sen or 5.88% to close at an eight-month high of nine sen yesterday, bringing a market capitalisation of RM52.9 million.

In its third financial quarter ended Dec 31, 2018, the manufacturer of rubber wood furniture components and roof truss saw its net loss widened to RM1.08 million versus RM753,000 a year ago.

This was on the back of a 38% decline in revenue to RM5.86 million from RM9.46 million a year ago due to a weaker overall market and higher costs, the group said.