JCY International Bhd (-ve)
Shares in hard disk drive components supplier JCY International Bhd (fundamental: 1.65/3, valuation: 0.9/3) climbed 1.5 sen or 6.38% to settle at 25 sen yesterday. The counter has triggered our momentum algorithm for the second time this year.
It saw strong trading interest with some 23.57 million shares changing hands, nine times its 200-day average trading volume of 2.65 million shares.
For the fourth quarter ended Sept 30, 2019, it saw its net loss narrowed to RM1.29 million from a net loss of RM49.83 million a year earlier despite revenue for the quarter falling 19.94% to RM258.62 million from RM323.01 million, due to lower volume shipped.
The group attributed the improvement in its net profit for the quarter under review to lower impairment, together with a one-time gain on disposal of land and buildings through acceptance of relocation compensation by a subsidiary.