MMAG Holdings Bhd (-ve)
TRADING of shares in MMAG Holdings Bhd (fundamental: 1.65/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the first time since Aug 8 last year.
A total of 880,300 shares crossed yesterday, exceeding the counter’s 200-day average of 256,208 shares, before it closed 1.5 sen higher at 26 sen on the ACE Market of Bursa Malaysia.
The supply chain management company has been loss-making since its financial year 2015 (FY15), bringing its accumulated net loss to RM105.06 million as at FY19 ended March 31, 2019. Revenue tumbled from above RM400 million in FY15 to RM75.09 million in FY19, its annual report showed.
MMAG has said in order to improve overall performance, the group will explore new business opportunities with recurring revenue, monitor operational cost and efficiency, besides expanding its existing business.