Orion IXL Bhd (-ve)
SHARES in Orion IXL Bhd (fundamental: 1.65/3, valuation: 0/3) triggered our momentum algorithm for the fifth time this year. The counter closed two sen or 5.5% higher at 38.5 sen yesterday, with some 11.1 million shares traded. In comparison, its 200-day average volume is only around 1.81 million shares.
Formerly known as Cworks Systems Bhd, the company is a maintenance management software specialist.
Orion fell into the red with a net loss of RM516,000 in the fourth quarter ended Dec 31, 2016 (4QFY16) compared with a net profit of RM48,000 a year earlier due to lower sales generated from its operations in Malaysia. Revenue fell 47.51% to RM971,000 from RM1.85 million.
For the full year, its net loss widened to RM1.86 million from RM1.46 million in FY15. Revenue declined 23.99% to RM3.36 million from RM4.42 million.