Ta Ann Holdings Bhd ( Valuation: 2.00, Fundamental: 2.30) (-ve)
SHARES of Ta Ann (Fundamental: 2.3/3, Valuation: 2.0/3) continued to rise, closing 3.9% higher at an all-time high of RM4.85 yesterday.
This came after it was reported that Sarawak-based timber companies are expected to record better 4Q2015 results, on the back of continued weakness in ringgit and stable selling prices.
Sarawak-based Ta Ann is primarily engaged in the manufacturing and sale of sawn timber, veneer and plywood, trading of timber logs and cultivation of oil palms.
For 3Q2015, revenue grew 5% to RM298.9 million while net profit rose an outsized 54.6% to RM67.4 million, primarily due to higher fresh fruit bunch production and better average selling prices of export logs and plywood in ringgit terms. The latter offset the 31% and 9% fall in sales volume of logs and plywood, respectively.
Dividends totalled 20 sen per share for 2015, so far, giving a net yield of 4.1%.
TAANN (5012) - Stock With Momentum: Ta Ann Holdings
http://www.theedgemarkets.com/my/article/stock-momentum-ta-ann-holdings-1
