Asia Media Group Bhd (-ve)

TRADING of shares in Asia Media Group Bhd (fundamental: 2.35/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the first time this year. The counter closed up half a sen or 3.7% at 14 sen yesterday with a volume of 7.06 million shares, exceeding its 200-day average volume of 1.13 million shares.

Asia Media posted a net loss of RM69,000 or 0.03 sen a share in its second financial quarter ended June 30, 2018 (2QFY18), compared to a net profit of RM309,000 or 0.13 sen a share last year. Revenue was down 9.03% to RM3.58 million in 2QFY18, against RM3.93 million previously.

For the cumulative six months ended June 30, 2018, Asia Media reported a net loss of RM1.15 million or 0.48 sen per share, from a net profit of RM639,000 or 0.27 sen per share a year ago as revenue fell 1.82% to RM7.54 million from RM7.68 million last year.

At the current share price, Asia Media is trading at 0.01 times its book value.