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.  

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