This article first appeared in The Edge Financial Daily, on April 29, 2016.
Hiap Teck Venture Bhd (-ve)
SHARES in Hiap Teck Venture Bhd (fundamental: 0.35/3, valuation: 1.2/3) jumped 13.79% or six sen to close at 49.5 sen yesterday, with 23.52 million shares changing hands, a big jump from its 200-day average volume of 854,229 shares. The counter was the 11th most actively traded on the local bourse.
Yesterday was the sixth time this month that the counter has triggered our momentum algorithm.
In its second quarter ended Jan 31, 2016 (2QFY16), its net loss widened to RM22.81 million from RM6.09 million, due to lower interest income and a higher share of loss from the jointly controlled entity (JCE). The higher share of loss from the JCE was due to loss associated with its trial production and weak market conditions. Revenue fell 8.64% to RM275.09 million from RM301.12 million in 2QFY15.
Hiap Teck is trading at 0.43 times its book value. The company has not declared any dividend in the past three years.
HIAPTEK (5072) - Stock With Momentum: Hiap Teck Venture
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