This article first appeared in The Edge Financial Daily on May 2, 2019

Bonia Corp Bhd (-ve)

Trading of shares in Bonia Corp Bhd (fundamental: 1.95/3, valuation: 1.10/3), which triggered our momentum algorithm on Tuesday for the first time this year, saw the counter closing 1.75% or half a sen lower at 28 sen.

It saw 3.55 million shares done, in contrast to the stock’s 200-day average trading volume stood at 493,849 shares.

The group, which has undertaken a series of share buybacks last month (April), reported a 27% slide in net profit to RM9.49 million in the six months ended Dec 31, 2018 (1HFY19) from RM13.31 million in the corresponding six-month period a year ago.

This is despite revenue rising 3% to RM231.43 million from RM225.55 million.

The group saw the demerger of CRG Group during the financial period, as such only four and a half months of its results were consolidated in 1HFY19. Year to date, Bonia’s shares have climbed 27.27% from 22 sen apiece.