Stock With Momentum: Nova MSC
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Stock With Momentum: Nova MSC
Stock With Momentum: Nova MSC
By Asia Analytica / The Edge Financial Daily | June 13, 2016 : 10:06 AM MYTThis article first appeared in The Edge Financial Daily, on June 13, 2016.
Nova MSC Bhd (-ve)
SHARES in Nova MSC Bhd (fundamental: 1.85/3, valuation: 0.3/3) triggered our momentum algorithm last Friday for the first time this year, when the counter closed up one sen or 9.09% at 12 sen, after some 9.02 million shares exchanged hands.
The company is a provider of software services for the government and healthcare sector.
In its fourth financial quarter ended March 31, 2016 (4QFY16), the company reported a net loss of RM2.37 million, compared to a net profit of RM583,000 in the same period a year ago, on lower revenue as well as a bad debt written off.
Revenue for 4QFY16 declined by 13.2% to RM8.34 million from RM9.6 million a year ago, as a result of lower delivery of third-party products.
The stock is currently trading at 1.3 times its book value.
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