YGL Convergence Bhd (+ve)
SHARES in YGL Convergence Bhd (fundamental: 1.55/3, valuation: 0.3/3) triggered our stocks with momentum algorithm yesterday for the first time since 2014.
The stock gained 7.7% or one sen higher at 14 sen with 9.9 million shares traded compared with the counter’s 200-day average of 266,236 shares.
YGL Convergence is an MSC-status IT service management company and business solution provider that operates in Malaysia, Singapore, Thailand, Hong Kong and China.
For the fourth quarter ended Dec 31, 2016, its net loss increased to RM283,000 from RM205,000 in the previous year. Revenue declined to RM967,000, down 45%, from RM1.76 million a year ago.
YGL Convergence is currently trading at two times its net book value.