Sino Hua-An International Bhd (+ve)

Sino Hua-An International Bhd (fundamental: 1.35/3, valuation: 0.9/3) triggered our momentum algorithm for the first time yesterday when its share price surged 40% to close at 3.5 sen, after 14.62 million shares were traded, compared with its 200-day average of 510,478.

There was no new announcement by the group. It has also reportedly suspended its business or major operations temporarily.

According to its filing with Bursa Malaysia, the move was to provide an alternative avenue for the group to mitigate the extent of the anticipated losses arising from prolonged unfavourable market conditions.

The group has to submit a regularisation plan to the regulatory authorities by June 15, 2017, after triggering a listing requirement on maintaining an adequate level of operations. Failure to comply will lead to the suspension of trading of its securities, followed by a delisting.

Year to date, its share price has fallen 41.67%; it is down 36.36% from a year ago.