Hexza Corp Bhd (-ve)
TRADING of shares in Hexza Corp Bhd (fundamental: 1.2/3, valuation: 1.8/3) triggered our proprietary momentum algorithm yesterday for the fourth time this month.
A total of 1.02 million shares were crossed — sharply higher than the counter’s 200-day average trading volume of 88,833 shares — ending the day 3.5 sen or 4.14% lower at 81 sen.
Last Friday, Hexza announced a net profit of RM2.12 million for its first financial quarter ended Sept 30, 2018 (1QFY19), compared to a net loss of RM25.28 million in the year-ago quarter, while revenue grew 13.7% year-on-year to RM28.45 million from RM25.03 million in 1QFY18.
The improved earnings were mainly due to the absence of a full provision for impairment loss of finance lease receivable amounting to RM28.54 million recognised in the corresponding quarter last year.