Shin Yang Shipping Corp Bhd (+ve)
SHARES in Shin Yang Shipping Corp Bhd (fundamental: 0.7/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the third time this year.
The counter closed one sen or 2.94% lower at 33 sen, giving it a market capitalisation of RM391.45 million. Some 13.13 million shares were traded, exceeding its 200-day average volume of 1.18 million shares.
Shin Yang returned to the black in its third quarter ended March 31, 2018, with a net profit of RM6.51 million compared to a net loss of RM7.14 million a year ago, as revenue jumped 26% to RM175.74 million from RM142.9 million.
The group said continuous improvement in terms of operational cost management, fleet efficiency and route enhancement would be an important priority in the next few quarters.