Teck Guan Perdana Bhd (-ve)

SABAH-based Teck Guan Perdana Bhd (fundamental: 1/3, valuation: 1.1/3), which triggered our momentum algorithm yesterday, saw 2.82 million shares traded, 18 times above its 200-day average volume of 126,299 shares.

The group led the top losers list of Bursa Malaysia on market close as its share price dropped 50 sen or 18.05% to RM2.27, giving it a market capitalisation of RM93.43 million.

Year to date, the group has gained 46 sen or 25.4%. Its net profit for the third financial quarter ended Oct 31, 2016 (3QFY17) rose 33.8% to RM3 million from RM2.24 million a year earlier, attributed to higher selling prices for its palm oil products, favourable exchange rate and an increase in sales volume.

Revenue shot up by 90% to RM92.9 million from RM48.89 million, mainly contributed by increased selling prices and sales volume.

For the cumulative nine-month period (9MFY17), its net profit climbed 39% to RM10.66 million against RM7.67 million in 9MFY16, while revenue rose 71.5% to RM289.52 million from RM168.78 million.