Advance Synergy Bhd (+ve)

TRADING of shares in Advance Synergy Bhd (fundamental: 0.95/3, valuation: 1.2/3) triggered our momentum algorithm yesterday for the first time this year.

The counter, which fell one sen or 6.06% to close at 15.5 sen, saw a total of 17.86 million shares traded, over 10 times its 200-day average trading volume of 1.73 million shares.

For the third quarter ended Sept 30, 2019, Advance Synergy’s net loss expanded to RM4.66 million from RM4.23 million a year ago, as revenue fell 13.25% to RM56.73 million from RM65.4 million. For the cumulative nine months ended Sept 30, 2019, the group reported a wider net loss of RM13.17 million, compared with RM12.36 million a year ago, while revenue declined to RM189.88 million from RM196.34 million.

Via its subsidiaries, Advance Synergy is involved in information and communications technology, property development, hospitality, and card payment services, among others.