Stock With Momentum: MINDA Global

This article first appeared in The Edge Financial Daily, on July 10, 2019.
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MINDA Global Bhd (-ve)
MINDA Global Bhd (fundamental: 0.95/3, valuation: 0.9/3), which took over the listing status of Asiamet Education Group Bhd on Feb 19 last year, triggered our momentum algorithm yesterday for the second consecutive day.

The counter closed half a sen or 6.67% lower at seven sen after 5.47 million shares were traded, about eight times more than its 200-day average of 717,067 shares.

The integrated private education firm operates the flagship Cyberjaya University College of Medical Sciences, as well as the Asia Metropolitan University, the Asia Metropolitan College, and the Asia Metropolitan International School.

In the first quarter ended March 31, 2019, Minda Global narrowed its net loss to RM3.26 million from RM4.58 million previously, as revenue grew 3.21% to RM23.5 million from RM22.77 million, thanks to the disposal gain, more active students in the period, and manpower cost savings.