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Stock With Momentum: SIG Gases

TheEdge Mon, May 06, 2019 09:56am - 7 months ago

SIG Gases Bhd (-ve)
TRADING of shares in SIG Gases Bhd (fundamental: 0.85/3, valuation: 1.40/3) triggered our momentum algorithm last Friday for the fourth time this year.

The counter close half a sen or 0.56% lower at 89 sen last Friday, with a market capitalisation of RM167.81 million. A total of 355,900 shares were traded compared with its 200-day average trading volume of 190,226.5 shares.

SIG Gases’ net profit for the fourth quarter ended Dec 31, 2018 (4QFY18) more than doubled to RM1.65 million from RM730,000 a year ago, thanks to higher other non-operating income and the reversal of impairment to air separation unit plant of RM1.55 million as the plant was enhanced with increased capacity after it has been fully refurbished and commissioned during the quarter.

This was despite a lower revenue posted in 4QFY18 of RM19.52 million, down by a marginal 1.3% from RM19.78 million in 4QFY17.

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SIGGAS 0.960


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