Green Packet Bhd (-ve)
Trading of shares in Green Packet Bhd (fundamental: 0.35/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this year. The stock finished one sen up at 35.5 sen. A total of 6.06 million shares were crossed, about 2.5 times more than the counter’s 200-day average trading volume of 2.31 million shares.

Green Packet announced a widened net loss of RM13.88 million for the first quarter ended March 31, 2019, from RM7.05 million in the year-ago quarter. Revenue fell 8.1% to RM97.94 million from RM106.55 million.

The losses were largely due to continued investment in its business development costs, mainly staff and sales or marketing costs incurred to build the digital services business; a substantially lower revenue from the software and devices business; and narrower margins in its communication business.