Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
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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