Len Cheong Holding Bhd (-ve)
SHARES of Len Cheong Holding Bhd (fundamental: 0.75/3; valuation: 0.9/3) triggered our momentum algorithm for the eighth time this month. Its shares inched up half sen or 1.47% to close at 34.5 sen yesterday after 8.54 million shares changed hands.
In a filing to Bursa Malaysia dated March 28, the wood furniture maker announced that Swiss Hotel Sdn Bhd has ceased to be a substantial shareholder of the company after disposing of two million shares through the open market at 16.5 sen each.
The company turned around and posted a net profit of RM1.39 million in its fourth quarter ended Dec 31, 2015 (4QFY15), from a net loss of RM1.73 million a year ago, as revenue climbed 29.5% to RM8.78 million from RM6.78 million.
For the full year, Len Cheong slipped into a net loss of RM4.98 million from a net profit of RM13.07 million in FY14.
The stock currently trades at 0.8 times its book value.
LCHEONG (7943) - Stock With Momentum: Len Cheong Holding http://www.theedgemarkets.com/my/article/stock-momentum-len-cheong-holding-1
