Scientex Bhd (-ve)
Shares of Scientex Bhd (fundamental: 1.5/3; valuation: 1.5/3) fell 6 sen or 0.46% to RM12.96 yesterday, after 892,400 shares were exchanged. This is the fourth time this month that the counter has triggered our momentum algorithm.
Scientex has seen its share price steadily appreciating since late 2015, gaining RM5.37 or 70% since its closing of RM7.59 on Oct 1.
The company recently announced a 79% leap in its net profit to RM64.6 million, from RM36 million a year ago, on higher contributions from its consumer packaging operations.
The company also proposed a one-for-one bonus issue to reward its shareholders, which will be capitalised from its retained earnings and share premium accounts, which stood at RM107.63 million and RM64.35 million respectively.
Scientex is trading at 2.8 times its book value. It paid out a 22 sen per share dividend for FY15.
SCIENTX (4731) - Stock With Momentum: Scientex
http://www.theedgemarkets.com/my/article/stock-momentum-scientex-1
