G3 Global Bhd (-ve)

SHARES in G3 Global Bhd (fundamental: 0.35/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the second time this year, closed seven sen or 8.75% higher at 87 sen.

Some 741,800 shares were traded, versus its 200-day average trading volume of 109,796.

In a recent interview with The Edge Malaysia weekly, its chairman Puan Chan Cheong said the company was confident about delivering the bottom line and should return to profitability soon.

Puan said G3 is expanding its business via diversification and has strong support from its two new strategic shareholders, Green Packet Bhd and Taiwan-listed Internet of things (IoT) player, Gemtek Technology Corp.

For the 12-month period from Aug 1, 2016 to July 31, 2017, the clothing retailer and IoT solution provider’s net loss narrowed from RM14.33 million a year ago to RM5.63 million.