HB Global Ltd (-ve)
TRADING of shares in HB Global Ltd (fundamental: 1.2/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The counter settled unchanged at 12.5 sen after 1.88 million shares were traded — in contrast to its 200-day average trading volume of 678,425 shares — giving the group a market capitalisation of RM58.5 million.

On March 1, the Practice Note 17 (PN17) company announced that it had been granted more time — up until March 31 — to submit its regularisation plan to Bursa Malaysia.

“The company is in the midst of formulating a regularisation plan to address its PN17 status,” it added.

For the full financial year ended Dec 31, 2018, the group’s net profit fell 20% to RM11.06 million from RM13.77 million, while revenue declined 5% to RM98.87 million from RM104.48 million. It attributed the decline in profitability to higher expenses, a dip in frozen vegetable product sales, and a decline in profit margin due to the depreciation of the yuan.