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This article first appeared in The Edge Financial Daily on June 13, 2019

Bonia Corp Bhd (+ve)
Trading of shares in Bonia Corp Bhd (fundamental: 1.95/3, valuation: 1.1/3) triggered our momentum algorithm for the third time this year.

The last time the stock triggered the algorithm was on May 31. Its share price was unchanged at 33.5 sen yesterday — with a market capitalisation of RM265.28 million. Some 1.74 million shares changed hands as compared with the counter’s 200-day average volume of 529,656.6 shares.

The fashion retailer posted third quarter ended March 31, 2019 net loss of RM167,000 from a profit of RM1.28 million in the corresponding quarter last year. Quarterly revenue, however, grew 12.2% to RM116.92 million. Earnings per share for the quarter slipped into negative territory with a loss per share of two sen.

For the cumulative nine months ended March 31, 2019, net profit shrank 34.52% to RM9.56 million, from RM14.59 million. Revenue for the period increased 5.64% to RM348.35 from RM329.76 million.

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