NWP Holdings Bhd (-ve)
NWP Holdings Bhd (fundamental: 0.95/3; valuation: 0.3/3), which made it into our Stocks with Momentum list yesterday for the second time this month, closed up one sen or 8.33% at 13 sen.
It saw 6.42 million shares done, versus its 200-day average trading volume of 724,774.5 shares.
The group is principally involved in the manufacturing and trading of a wide range of quality timber products such as interior and exterior moulded timber products, and sawn timber.
On April 11, NWP signed an agreement with Borneo Resources to extract and sell all timber, trees and logs on 605.9ha of planted forest in Ranau, Sabah.
Borneo Resources, currently the land’s beneficial owner, will secure the cutting permit for the job, while NWP will pay it RM2.5 million as performance bond.
As at yesterday, NWP was trading at 1.4 times its net book value.