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Supercomnet Technologies Bhd (+ve)

Supercomnet Technologies Bhd (fundamental: 2.05/3, valuation: 1.70/3) triggered our momentum algorithm for the first time this year, following trades of 2.71 million shares yesterday, compared with the 200-day average volume of 449,365 shares.

The counter closed one sen or 8% higher at 13.5 sen, the highest point yesterday. The closing price was close to its 52-week high of 14.5 sen on May 11, 2015.

According to Bursa Malaysia, the group on April 29 announced a single-tier final dividend of four sen per share for the financial year ended Dec 31, 2015 (FY15), to be paid on June 9 this year.

For FY15, the group recorded a total revenue of RM34.9 million compared with the preceding year’s RM33.53 million. Its net profit surged 284% to RM2.98 million, from RM777,000 a year ago.

The Kedah-based company manufactures wires and cables for the automotive industries. The bulk of its earnings comes from its associate, Supercomal Medical Products, which manufactures cables for medical devices.

supercomet-tech_swm_fd050516_theedgemarketsSCOMNET (0001) - Stock With Momentum: Supercomnet Technologies
http://www.theedgemarkets.com/my/article/stock-momentum-supercomnet-technologies
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