Green Packet Bhd (+ve)
Trading of shares in Green Packet Bhd (fundamental: 0.35/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the first time this year. The stock closed up 2.5 sen or 6.67% at 40 sen, after 54.11 million shares were traded, versus the counter’s 200-day average volume of 6.32 million shares. The group’s market capitalisation stood at RM300.41 million.
The 4G network operator and services provider widened its net losses in the second quarter ended June 30, 2018 to RM10.22 million from RM3.5 million a year ago despite revenue rising 25.26% to RM103.59 million from RM82.69 million.
The weaker performance was mostly attributed to its software and devices business, which registered 78% lower sales year-on-year, mainly due to lower shipment of devices to a major customer in the Philippines.
As of yesterday, Green Packet was trading at 1.9 times its net book value.