Oversea Enterprise Bhd (-ve)
Trading of shares in Oversea Enterprise Bhd (fundamental: 0.95/3, valuation: 0.9/3), triggered our momentum algorithm yesterday for the first time this year.

At the closing bell, the counter closed half a sen higher at 13 sen after recording a total trading volume of 347,100 shares, sharply higher than its 200-day average of 15,249 shares.

The ACE Market-listed company announced on the same day that its second quarter ended Sept 30, 2019 registered a net profit of RM2.21 million — up 61% from RM1.37 million for the year-ago quarter — while revenue held up at RM19.83 million from RM19.84 million previously.

Oversea Enterprise attributed its better profitability to lower losses at its restaurant segment and additional manufacturing profit, besides improved margins. The company said it will continue to promote the Restoran Oversea brand and to remain relevant in the market.