KUALA LUMPUR, Feb 17 (Bernama) -- Bursa Malaysia’s main index finished lower today as selling by foreign funds persisted, amid the better performance in most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.84 points, or 0.55 per cent, to 1,582.76 compared with last Friday’s close of 1,591.60. The benchmark index opened 0.88 of-a-point higher at 1,592.48, marking its intraday high, and subsequently slid to a low of 1,580.94 during mid-afternoon session. In the broader market, losers thumped gainers 715 to 313, while 465 counters were unchanged, 815 untraded and 10 suspended. Turnover shrank to 2.98 billion units worth RM1.95 billion from 3.27 billion units worth RM2.40 billion last Friday.
Bio Osmo Bhd (+ve)
LAST Friday, shares in Bio Osmo Bhd (fundamental: 1.85/3, valuation: 0.3/3) triggered our momentum algorithm for the first time. The counter closed 1 sen or 20% higher at 6 sen, with a total volume of 5.1 million shares. Its 200-day average volume was 409,516.
The loss-making bottled water manufacturer recently completed its placement exercise to fund its diversification into hotel management business, via a subscription of a 75% stake in Intra Magnum Sdn Bhd (IMSB) for RM18.75 million. The balance 25% will be held by Impiana Sdn Bhd. IMSB is developing the Impiana Resort & Residences Cherating in Kuantan, and has entered into three hospitality management agreements with Impiana Cherating Sdn Bhd, Impiana Hotel Ipoh Sdn Bhd and Impiana Tioman Sdn Bhd.
Bio Osmo’s stock currently trades at 1.5 times its net book value. Bio Osmo did not pay dividends for the financial year ended Dec 31, 2014.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-bio-osmo?type=Stock%20with%20Momentum
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