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Loss-making Asdion Counter Actively Traded, Share Price Jump to 7.5 Sen

The Malaysian Reserve ·  Oct 25, 2023 15:29

LOSS-MAKING Asdion Bhd was the fourth most active on the local stock exchange yesterday, with more than 60.3 million shares exchanging hands, with the counter closing at 7.5 sen.

The MSC status penny stock was trading at three sen on Oct 13 and jumped to 6.5 sen on Monday.

The company is involved in the logistics businesses, commodity trading and property development. The logistics businesses primarily involve freight forwarding, trucking services, stevedoring related services and civil earthwork with logistics related.

For the financial year ended Sept 30, 2022 (FY22), the company posted a net loss of RM4.05 million on the back of RM3.84 million in turnover. It has been reporting losses since FY18.

In the first nine months until June 2023, Asdion narrowed its net loss to RM777,000 on the back of RM3.43 million in turnover.

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