TEKSENG (7200) TEK SENG HOLDINGS BHD
KUALA LUMPUR (Oct 23): Polyvinyl chloride (PVC) products manufacturer Tek Seng Holdings Bhd rose 1.2% to become the third most-active stock on Bursa Malaysia, with some 23.8 million shares done.
At 2.52pm, Tek Seng was up one sen at 85.5 sen, bringing its market capitalisation to RM206.40 million.
The stock was highlighted by TheEdge Markets.com as one of the stocks with momentum last Monday (Oct 20).
A senior remisier told TheEdge Markets.com that the stock had been actively traded, despite the absence of news flow relating to the stock.
“Operators have been recommending this stock, but fundamentally, there has not been much going on with Tek Seng. Traders are probably looking at the technicals of the stock,” he said.
Year-to-date, the counter has gained 195%, outperforming the FBM KLCI which fell 3%, according to on Bloomberg data.
Tek Seng’s net profit surged to RM9.83 million for its second quarter ended June 30, 2014, from RM627,000 a year earlier. Revenue grew to RM70.45 million, from RM53.56 million.
http://www.theedgemarkets.com
