Friday 01 Nov 2024
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This article first appeared in The Edge Financial Daily, on March 13, 2017.

 

Hwa Tai Industries Bhd (-ve)

SHARES in Hwa Tai Industries Bhd (fundamental: 1.15/3, valuation: 0.3/3) triggered our momentum algorithm last Friday for the first time this year.

The stock closed up 6.5 sen or 12.15% at 60 sen last Friday, with a volume of 2.44 million shares traded, exceeding the counter’s 200-day average volume of 204,505 shares.

Its market capitalisation stood at RM44.9 million.

For the financial year ended Dec 31, 2016 (FY16), Hwa Tai saw its net profit rise 17.4% to RM378,000 from RM322,000 in FY15, while revenue slipped 4.8% to RM63.17 million from RM66.3 million in FY15.

At the current share price, Hwa Tai is trading at 1.44 times its book value.

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