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This article first appeared in The Edge Financial Daily on February 7, 2019

Bio Osmo Bhd (-ve)
TRADING of the shares in Bio Osmo Bhd (fundamental: 1.2/3, valuation: 0.3/3) triggered our momentum algorithm on Monday for the second time this year.

The counter closed 0.5 sen or 10% higher at 5.5 sen after 10.06 million shares were done, giving it a market capitalisation of RM43.75 million.

It was reported on Nov 13, 2018 that Bio Osmo was selling its loss-making bottled drinking water business for RM2.5 million, in line with its plan to focus on its hospitality business.

The move was also made in view of the continuous pricing squeeze, rising production cost and capacity constraints, the group said in a filing with Bursa Malaysia, adding that the disposal would allow it to curtail further losses in future.

Based on the closing price on Monday, Bio Osmo shares were trading at 2.75 times their net book value.

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