Stock With Momentum: YKGI Holdings

This article first appeared in The Edge Financial Daily, on January 6, 2020.
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YKGI Holdings Bhd (+ve)

YKGI Holdings Bhd (fundamental: 0.35/3, valuation: 0.3/3), which made it into our Stocks with Momentum list last Friday, closed 1.5 sen or 10% lower at 13.5 sen.

The counter saw 9.35 million shares traded, higher than its 200-day average volume of 404,127.5 shares.

The group is principally involved in the manufacturing and sales of galvanised and coated steel products, pickled and oiled hot- rolled coils and cold-rolled coils.

For the third quarter ended Sept 30, 2019, YKGI narrowed its net loss to RM998,000 from RM6.93 million for the previous corresponding quarter. However, revenue declined 16.1% to RM48.46 million from RM57.78 million.

It said the decrease in revenue was due to the continued impact of the cessation of trading of coated coils by a subsidiary, except for the remaining inventory, following the disposal of the manufacturing business that was completed in April 2019.