Bioalpha Holdings Bhd (+ve)
TRADING of shares in Bioalpha Holdings Bhd (fundamental: 2.25/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the first time this year. The company saw 4.25 million shares traded, exceeding the counter’s 200-day average of 1.76 million. The stock closed unchanged at 25 sen, leaving it with a market capitalisation of RM206.55 million. Bioalpha Holdings was last traded at 1.49 times its book value.
The local health supplement and beauty product manufacturer posted a net profit of RM640,000 for its first quarter ended March 31, 2018 compared to a loss of RM1.96 million a year ago. Meanwhile, revenue increased 44.4% to RM12.46 million from RM8.63 million a year ago.
The Malaysian Technology Development Corp announced last Tuesday it would continue to invest in Bioalpha after seeing the company successfully penetrate local and Asian markets.