Advance Synergy Bhd (-ve)
TRADING of shares in Advance Synergy Bhd (fundamental: 0.95/3, valuation: 1.2/3), triggered our proprietary momentum algorithm yesterday for the third time this month.

The stock rose 1.5 sen or 10.71% to close at 15.5 sen yesterday. A total of 41.27 million shares were crossed, about 35 times their 200-day average trading volume of 1.18 million shares.

Advance Synergy has registered three consecutive quarters of losses starting from the first quarter ended March 31, 2019. This has brought its cumulative net loss since then to RM13.17 million, although revenue held up with a mere 3.3% drop to RM189.88 million for the period.

The group, with businesses in hotels; information and communications technology; and property development, said although it expects its final quarter to be challenging, it is cautiously optimistic about the growth prospects of its core business and will focus on its turnaround restructuring plans already in place. If it fails to do so, its business unit will cease operations or be divested.