This article first appeared in The Edge Financial Daily on November 13, 2019
TANCO Holdings Bhd (-ve)
TANCO Holdings Bhd (fundamental: 0.35/3, valuation: 0.9/3) made it into our Stocks with Momentum list yesterday for the second time this month.
The stock finished half a sen or 7.14% higher at 7.5 sen yesterday after 32.5 million shares were crossed, almost 30 times its 200-day average trading volume of 1.1 million shares.
Tanco, which is involved in property development, tourism, leisure and entertainment business, reported an 80.6% slump in its financial year 2019 (FY19) revenue to RM3.04 million, from RM15.72 million in the preceding year.
The company recorded its seventh consecutive year of losses with a net loss of RM15.54 million in FY19, bringing its accumulated losses to the tune of RM163.86 million.