JADEM 7043 JADE MARVEL GROUP BERHAD shares see heavy sell-off on weak 1Q results
KUALA LUMPUR (Sept 2): Since announcing a disappointing set of results on Monday (Aug 29), shares in Jade Marvel Group Bhd have seen heavy selling pressure, resulting in a 67.1% decline in just three trading days.
On Tuesday (Aug 30), the counter hit limit down after falling 30 sen or 37.27% to 50.5 sen.
It even slumped to an intraday low of 24.5 sen on Friday (Sept 2), before closing down 4.5 sen or 14.52% at 26.5 sen, valuing the group at RM86.07 million.
The group reported a net loss of RM1.63 million for the first quarter ended June 30, 2022 (1QFY23), versus a net profit of RM672,000 in 1QFY22, due to losses incurred across the manufacturing, mining and property development segments.
For FY22, it posted higher earnings of RM7.16 million, against RM4.04 million in FY21.
According to sources, the sharp fall in Jade Marvel’s shares could also be triggered by a margin call involving one of its major shareholders.
JMR Consolidated Holdings Sdn Bhd is the largest shareholder of Jade Marvel with an 8.41% stake, followed by X Infinity Holdings Sdn Bhd (6.54%), Global Legacy Partners Sdn Bhd (4.61%) and Zenith Super Sdn Bhd (4.56%).
Two months ago, Jade Marvel proposed to diversify its business to include prospecting and sale of iron ores, dolomite, sand and other minerals, to expand its revenue stream.
http://www.theedgemarkets.com/article/jade-marvel-shares-see-heavy-selloff-weak-1q-results
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
How to we keep the dead alive?13 hours ago
-
-
-
-
-
-
-
-
The History of CapitaLand20 hours ago
-
-
CapitaLand Integrated Commercial Trust21 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates3 days ago
-
-
-
-
-
Keyboarding Warriors4 days ago
-
-
-
-
Cory Diary : Portfolio updates5 days ago
-
-
-
Weekly Markets Outlook5 days ago
-
-
Portfolio Update6 days ago
-
-
-
-
-
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
2024 (Portfolio Update)3 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)4 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website5 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-