This article first appeared in The Edge Financial Daily on November 15, 2018
Permaju Industries Bhd (-ve)
TRADING of shares in Permaju Industries Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the sixth time this month. The stock touched a 14-month high to close 1.5 sen or 4.11% higher at 38 sen, giving it a market capitalisation of RM74.46 million.
The company’s share price has also been on an uptrend since its closing of 26 sen last Tuesday.
For the second quarter ended June 30, 2018, Permaju reported a smaller net loss of RM751,000, compared with its net loss of RM1.4 million a year earlier. Revenue climbed 10% year-on-year to RM20.59 million from RM18.66 million.
The company has been in the red for 11 consecutive quarters since the fourth quarter of 2015.