This article first appeared in The Edge Financial Daily on July 17, 2019
Salutica Bhd (-ve)
TRADING of shares in Salutica Bhd (fundamental: 1.2/3, valuation: 1.2/3) triggered our momentum algorithm yesterday for the second time this year.
The stock finished down 1.5 sen to 51 sen, for a market capitalisation of RM196.35 million. A total of 5.55 million shares were traded compared with the counter’s 200-day average trading volume of 821,357 shares.
Salutica is an integrated electronics manufacturing company headquartered in Perak. It specialises in designing, developing, and manufacturing consumer and business electronic product development such as Bluetooth stereo headsets, smart watches and precision light guides for optical touchscreen system.
In its third financial quarter ended March 31, 2019, Salutica’s net loss widened to RM3.07 million from RM116,000 a year ago, while revenue shrank 60% year-on-year to RM19.38 million.