Stock With Momentum: CNI Holdings

This article first appeared in The Edge Financial Daily, on April 15, 2019.
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CNI Holdings Bhd (-ve)

TRADING of shares in retail trading firm CNI Holdings Bhd (fundamental: 2.25/3, valuation: 1.8/3) triggered our momentum algorithm last Friday for the first time this year.

Its shares closed up half a sen or 6.67% to a three-month peak of eight sen, with a market value of RM57.6 million. A total of 5.41 million shares were traded.

For its fourth quarter ended Dec 31, 2018, the group narrowed its net loss to RM705,000 from RM1.14 million in the previous year. Quarterly revenue rose to RM24.52 million from RM21.74 million a year ago on higher external sales.