KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day. In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended. Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion. ...
SKB Shutters Corp Bhd (-ve)
Shares in SKB Shutters Corp Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the first time. It saw a total of 4,000 shares traded that day, versus its 200-day average volume of 823.5 shares. The counter closed up 2.5 sen or 3.85% at 67.5 sen.
In April, SKB secured a US$10.8 million contract for the supply of racking solutions and automated storage and retrieval system (ASRS) for Hund Vuong Corp Ltd, one of the largest seafood processing and
export groups in Vietnam.
The company also indicated it was expecting more business from the racking solutions and ASRS segment, going forward.
For the financial year ended June 30, 2016, the company reported a narrower net loss of RM423,000, compared with RM515,000 in the previous year, after a 9% increase in revenue to RM55.77 million.
SKB is trading at 0.34 times its net asset value. It did not pay dividends for the financial year ended June 30, 2015.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-skb-shutters-corp?type=Stock%20with%20Momentum
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