Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on November 8, 2018

Permaju Industries Bhd (-ve)

TRADING of shares in Permaju Industries Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm for the fifth time since Oct 12.

The counter closed six sen or 23.08% higher at 32 sen yesterday, with a total of 35.87 million shares traded versus its 200-day average trading volume of 2.53 million shares.

Principally involved in the trading of motor vehicles and the provision of related services, as well as  property development and timber plantation, Permaju is valued at just under RM60 million.

As at its second quarter ended June 30, 2018 (2QFY18), the company has bled for 11 consecutive quarters beginning 4QFY15.

In 2QFY18, its net loss contracted year-on-year to RM751,000, from RM1.4 million in the same quarter a year ago, although revenue was higher by 10% at RM20.59 million.

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