Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on May 28, 2019

SMTrack Bhd (+ve)

The trading of shares in SMTrack Bhd (fundamental: 1.2/3, valuation: 0.3/3) triggered our proprietary momentum algorithm yesterday for the third time this year.

A total of 4.81 million shares crossed yesterday, exceeding its 200-day average of 1.56 million shares, before the counter closed unchanged at 15.5 sen. The ACE Market-listed information technology company, which is principally involved in radio frequency identification solutions products, has been loss-making since its financial year ended Sept 30, 2011.

As at its second quarter ended Jan 31, 2019, SMTrack registered a cumulative net profit of RM89,000, against a revenue of RM849,000. This is compared to a net loss of RM279,000 in the same quarter last year, against a revenue of RM474,000.

SMTrack said it is exploring opportunities in civil engineering and construction projects as well as the food chain business, and expects its financial performance to improve, through gradual execution of the group’s focus on strategic businesses.

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