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This article first appeared in The Edge Financial Daily on February 23, 2018

Borneo Aqua Harvest Bhd (+ve)

SHARES in Borneo Aqua Harvest Bhd (fundamental: 0.8/3, valuation: 0.3/3) triggered our stocks with momentum algorithm yesterday for the third time this year.

The stock closed up 6.39% or 5.5 sen to 91.5 sen, with 4.63 million shares done versus the counter’s 200-day average of 445,599 shares.

For its second financial quarter ended Sept 30, 2017 (2QFY18), it made a net loss of RM3.25 million versus a net profit of RM147,000 from a year ago. The group said this was due to high fatality of grouper fish fry at the nursery centre and pre-operational expenses incurred in the current quarter.

Quarterly revenue dropped 5% to RM5.65 million in 2QFY18 from RM5.96 million in 2QFY17, which the group attributed to the low demand for grouper fish in Hong Kong and China.

For the cumulative six months (1HFY18), it made a net loss of RM4.33 million versus a net profit of RM582,000 a year ago. Revenue was 2.9% lower at RM17.43 million versus RM17.96 million in 1HFY17.

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