Negri Sembilan Oil Palms Bhd (-ve)
TRADING of shares in Negri Sembilan Oil Palms Bhd (NSOP) (fundamental: 1.2/3, valuation: 1.2/3) triggered our momentum algorithm despite the shares closing unchanged at RM3.60 yesterday.
Year to date, NSOP shares have gained 12.5% from RM3.20 on Jan 2 this year. At the current share price, NSOP has a market capitalisation of RM252.73 million.
According to its latest quarterly report, NSOP incurred a net loss of RM1.45 million for the third quarter ended Sept 30, 2019, compared to a net profit of RM1.61 million a year ago, as average selling prices of fresh fruit bunches, crude palm oil, and palm kernel were substantially lower.
Quarterly revenue also declined 10.4% to RM13.05 million, from RM14.57 million previously.