Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on May 18, 2018

Borneo Aqua Harvest Bhd (+ve)
SHARES in Borneo Aqua Harvest Bhd (fundamental: 0.8/3, valuation: 0/3), triggered our proprietary momentum algorithm yesterday for the 15th time this year.

The stock closed seven sen or 6.14% higher at RM1.21, giving it a market capitalisation of RM729.97 million. A total of 5.65 million shares were traded, exceeding its 200-day average volume of 1.3 million shares.

For its third financial quarter ended Dec 31, 2017 (3QFY18), Borneo Aqua widened its net loss to RM3.91 million from RM1.56 million a year ago, while revenue fell 30.9% to RM4.03 million from RM5.83 million in 3QFY17.

The poor quarterly results lead to its net loss for the cumulative nine months (9MFY18) increasing to RM8.24 million from RM982,000 a year ago, while revenue dropped 9.8% to RM21.46 million in 9MFY18 from RM23.79 million in 9MFY17.

At the current share price, Borneo Aqua is trading at 4.18 times its book value.

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