Stock With Momentum: Jaya Tiasa Holdings
Jaya Tiasa Holdings Bhd (+ve)
LAST Friday, timber and plantation firm Jaya Tiasa Holdings Bhd (fundamental: 0/3, valuation: 1.2/3) saw 5.46 million of its shares traded — seven times its 200-day average of 748,413 shares — to close two sen or 3.33% higher at 62 sen.
The counter has risen by around 30% since a month ago on Oct 24, possibly in anticipation of better performance by the company in line with a pickup in earnings by other plantations firm in the third quarter of 2019.
Jaya Tiasa’s shares experienced a sell-off in the middle of this year, as it posted its second consecutive loss-making financial year in the period ended June 30, 2019 (FY19).
FY19 net loss widened to RM275.65 million from RM80.16 million, while revenue dropped 24.23% to RM637.74 million from RM841.69 million, no thanks to wider losses and lower top line from both its palm oil and timber operations.
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