Scanwolf Corp Bhd (-ve)
TRADING of shares in Scanwolf Corp Bhd (fundamental: 0/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the second time this year.
At the closing bell, the counter closed two sen or 7.41% higher at 29 sen after 36.41 million shares were crossed, over 154 times its 200-day average of 235,140 shares.
The company is engaged in the design and manufacturing of plastic extrusions, polyvinyl chloride (PVC) compounding, as well as the processing of PVC coils for home and office fittings and the trading of industrial consumables and other building materials.
For the first quarter ended Sept 30, 2019, Scanwolf returned to the black with a net profit of RM10.37 million, versus a net loss of RM1.7 million a year ago, despite revenue dropping 12.43% to RM9.49 million from RM10.84 million. It attributed the significant increase in earnings to a gain on the bargain purchase of an associate company that amounted to RM12.99 million.