Stock With Momentum: Kia Lim
Kia Lim Bhd (+ve)
SHARES in Kia Lim Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year.
The counter closed one sen or 2.33% lower at 42 sen, with 799,200 shares done, higher than its 200-day average volume of 51,728 shares.
In the third quarter ended Sept 30, 2017 (3QFY17), Kia Lim posted a net profit of RM524,000 against a net loss of RM1.65 million a year ago due to better overall margin.
Its quarterly revenue, however, slipped 2.82% to RM9.24 million from RM9.51 million in 3QFY16.
For the cumulative nine months of FY17, Kia Lim saw its net loss widen to RM3.63 million from RM3.07 million a year ago, while revenue declined 15.06% to RM29 million, from RM34.15 million.
At the current share price, Kia Lim is trading at 0.37 times its book value.
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