Nova MSC shares fall on profit-taking


KUALA LUMPUR: NOVA MSC Bhd’s shares were traded lower in morning trade Wednesday as investors take profit.


The ACE Market-listed counter fell 2.78%, or 0.5 sen to 17.5 sen with over 8.5 million shares traded.


Nova MSC is confident of returning to the black in 2019, bolstered by its high order book, better overall cost control and potential contract wins.

CGS-CIMB in a report yesterday said the company’s current order book stood at RM232mil, which is an all-time high.


“As Nova is confident of its strong track record in providing e-government services to well-recognised clientele, such as the Singapore and Brunei governments in various business segments, the group believes that it could stand to benefit from the growing demand.


“Nova’s total reported outstanding order book at end-March 2018 was at an all-time high of RM232mil.”

CGS-CIMB said that Nova had no direct peers, given its unique exposure to smart healthcare solutions.      


Last month, Nova’s wholly owned subsidiary, novaCITYNETS Pte Ltd (NCN), was awarded a tender by the Public Utilities Board in Singapore for a contract sum of about RM15.4mil.  


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Nova MSC

   

Next In Business News

US trade deficit jumps to record high in June on strong import growth
AirAsia nets RM240mil from Fly Leasing-Carlyle Aviation merger
Pavilion REIT doubles net profit in Q2 to RM20.4mil
Indonesia exits recession with 7% GDP growth in Q2, but virus clouds recovery
Comfort Gloves facilities in Taiping placed under EMCO�
MR DIY posts robust Q2 results despite Covid-19 curbs�
FBM KLCI closes in positive territory
China stocks fall as Beijing's crackdown fears hit sentiment
Nintendo profit falls as Switch sales fade
AmInvest takes top spots at annual fund management awards

Stories You'll Enjoy


Vouchers