Sealink International Bhd (-ve)
TRADING of shares in Sealink International Bhd (fundamental: 0.4/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the 11th time this year and the second time this month. The last time the counter triggered our momentum algorithm was last Thursday.
The stock closed two sen or 5.97% higher at 35.5 sen, valuing the company at RM177.5 million. The counter saw 17.31 million change hands, higher than its 200-day average trading volume of 2.5 million shares.
For the second quarter ended June 30, 2019 (2QFY19), the group’s net loss widened to RM9.57 million, from RM1.12 million a year ago. Quarterly revenue dipped to RM12 million, from RM12.9 million in 2QFY18. The group attributed the higher quarterly loss to the activation of vessels, which resulted in margin deterioration.
For the first half of financial year 2019, the group’s net loss widened to RM19.1 million, from RM12.31 million a year ago. Half-year revenue also slipped to RM19.04 million, from RM22.51 million.