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This article first appeared in The Edge Financial Daily on April 1, 2019

Sedania Innovator Bhd (-ve)

TRADING of the shares in Sedania Innovator Bhd (fundamental: 1.65/3, valuation: 0.3/3) made it to our Stocks with Momentum list last Friday for the first time this year. The stock closed 0.5 sen or 3.85% higher at 13.5 sen, with 782,500 shares done, compared with the average 170,764 shares recorded for the past 200 days.

For the fourth quarter ended Dec 31, 2018, the group reported a net loss of RM3.15 million versus a net profit of RM386,000, mainly due to lower contributions from its Internet of things and green technology segments. Revenue fell 68% to RM2.1 million from RM6.65 million a year ago. For the full year, the group reported a net loss of RM4.36 million against a net profit of RM1.57 million previously, as revenue more than halved to RM12.34 million from RM27.3 million.

The board said it had been encouraged by continuous positive contributions from the fintech segment and its new innovations that are expected to be on the market in 2019.

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