JAG Berhad announced its financial results for its 2024 financial year achieving a revenue of RM230 million, a 13.3% increase from the RM203 million in FY2023. The Group's unaudited profit after tax (PAT) stood at RM6.5 million, a significant increase compared with RM1.2 million a year ago.
For the quarter under review, the Group recorded a revenue of RM65.9 million compared with RM55.9 million in Q4FY2023. PAT
for the quarter stood at RM151,000, a turnaround from a loss after tax of RM1.3 million recorded in the previous year.
The improved financial performance was driven by the Group's TWM segment, which contributed RM223 million in revenue for the year, with an unaudited PAT of RM15 million. Given this performance, the Group will continue to focus on expanding the TWM segment as a key driver of long-term growth.
Dato' Ng Meow Giak, an Executive Director of JAG Berhad, said, "The strength of our TWM segment has been instrumental in our financial results. We are witnessing strong demand, supported by the rising commodity prices of particularly gold, silver, tin and nickel, as well as the continued growth of the semiconductor industry, which is expected to reach USD1 trillion.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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