Rimbunan Sawit Bhd (-ve)
Main Market-listed Rimbunan Sawit Bhd (fundamental: 0/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the second time since August 2018.

The stock finished 1.5 sen or 7.89% higher at 20.5 sen, after 2.66 million shares were done. The volume was sharply higher than its 200-day average trading volume of 230,848 shares.

The agribusiness group of Sarawak timber tycoon Tan Sri Tiong Hiew King, which is currently valued at RM324.59 million, has been loss-making for several years now, beginning from its financial year ended Dec 31, 2015.

For the nine months ended Sept 30, 2018, the group’s cumulative net loss widened to RM40.76 million, from RM15.73 million in the same period a year ago. This was despite a 5.4% revenue growth to RM245.16 million, from RM232.63 million earlier.