New Hoong Fatt Holdings Bhd (-ve)

SHARES in auto parts maker New Hoong Fatt Holdings Bhd (NHF) (fundamental: 1.8/3, valuation: 2.6/3) triggered our momentum algorithm for the first time since we started tracking. The counter reached a record high of RM3.90 yesterday, before paring down the gains to close two sen higher at RM3.72, with 117,300 shares traded. This compares with its 200-day average volume of 20,451 shares.

NHF’s net profit more than doubled to RM9.49 million in the fourth quarter ended Dec 31, 2016 from RM4.49 million.

Revenue rose almost 16% to RM62.81 million from RM54.2 million.

For the full financial year ended Dec 31, 2016, NHF’s net profit jumped 55.8% to RM29.99 million from RM19.25 million.

Full-year revenue grew almost 12% to RM231.89 million from RM207.23 million.

The stock currently trades at a trailing 12-month price-earnings ratio of 11.13 times and is at 0.75 times its book value.