Stock With Momentum: Permaju Industries

This article first appeared in The Edge Financial Daily, on March 31, 2020.
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Permaju Industries Bhd (-ve)

Permaju Industries Bhd (fundamental: 0.75/3, valuation: 0.3/3) made it into our Stocks with Momentum list yesterday for the sixth time in March.

The counter settled four sen or 4.02% lower at 95.5 sen, with 13.02 million shares traded, over three times its 200-day average volume of 3.65 million shares.

For the second quarter ended June 30, 2019, Permaju reported a net loss of RM762,000 on a revenue of RM18.55 million. The revenue was mainly derived from its automotive division.

There were no comparison numbers for the previous year’s corresponding period, due to a change in its financial year end from Dec 31 to June 30.

For the cumulative six-month period, Permaju posted a net loss of RM1.36 million on a revenue of RM37.36 million. The loss was because of losses recorded for its automotive, timber and property divisions, which were partly mitigated by the company’s strategic unit.