CNI Holdings Bhd (+ve)
TRADING of shares in CNI Holdings Bhd (fundamental: 1.65/3, valuation: 1.8/3) triggered our momentum algorithm yesterday for the first time since April last year.

The counter closed up half a sen or 6.67% at eight sen, with 4.99 million shares traded, almost eight times its 200-day average volume of 640,660 shares.

The retail firm reported a net loss of RM2.02 million or 0.28 sen per share for the third quarter ended Sept 30, 2019, versus a net profit of RM191,000 or 0.03 sen per share for the corresponding period a year ago, no thanks to lower sales. Revenue was down 26.44% to RM16.78 million from RM22.78 million.

For the nine months ended Sept 30, 2019, the company posted a net loss of RM4.92 million or 0.69 sen per share, compared to a net profit of RM1.34 million or 0.19 sen per share a year ago. Revenue declined 18.17% to RM50.51 million from RM61.73 million.