Stock With Momentum: Shin Yang Shipping Corp

TheEdge Wed, Jun 13, 2018 11:07am - 2 years ago


Shin Yang Shipping Corp Bhd (+ve)

SHARES in Shin Yang Shipping Corp Bhd (fundamental: 0.7/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the third time this year.

The counter closed one sen or 2.94% lower at 33 sen, giving it a market capitalisation of RM391.45 million. Some 13.13 million shares were traded, exceeding its 200-day average volume of 1.18 million shares.

Shin Yang returned to the black in its third quarter ended March 31, 2018, with a net profit of RM6.51 million compared to a net loss of RM7.14 million a year ago, as revenue jumped 26% to RM175.74 million from RM142.9 million.

The group said continuous improvement in terms of operational cost management, fleet efficiency and route enhancement would be an important priority in the next few quarters.






Related Stocks

SYSCORP 0.400

Comments

Login to comment.