TAS Offshore Bhd (-ve)

Trading of shares in TAS Offshore Bhd (fundamental: 0.85/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the second time this year.

A total of 14.49 million shares were crossed, compared with its 200-day average of 383,399 shares, before the counter closed four sen or 10.67% up at its three-year high of 41.5 sen.

TAS Offshore is mainly in the business of shipbuilding, including hull and superstructure construction, propulsion and power system installation, vessel testing and commissioning, besides the provision of ship repair services.

For the second quarter ended Nov 30, 2019 (2QFY20), TAS Offshore registered a net loss of RM857,000 versus a net profit of RM1.29 million for the corresponding quarter a year ago, as revenue more than halved to RM6.17 million from RM15.77 million.

This brings its earnings for the first half of FY20 to a net loss of RM475,000 on a revenue of RM13.01 million.