Prestar Resources Bhd (-ve)
SHARES in Prestar Resources Bhd (fundamental: 0.7/3, valuation: 2/3) triggered our momentum algorithm for the third time this year. The counter closed one sen or 1.64% lower at 60 sen last Friday, with 755,500 shares traded.
Prestar is involved in the manufacturing and processing of steel-related products. Its net profit more than doubled to RM5.97 million in the fourth financial quarter ended Dec 31, 2015 (4QFY15), from RM2.2 million a year ago. Its 4QFY15 revenue dropped 3.6% to RM150.82 million due to lower market demand after the implementation of the goods and services tax.
For the full year, its net profit fell 13.4% to RM10.66 million from RM12.31million, mainly due to foreign-exchange losses incurred by an associate company.
The stock is currently trading at a trailing 12-month price-earnings ratio of 10.02 times and is 0.5 times its book value. It’s trailing 12-month dividend yield is at 3.28%.
PRESTAR (9873) - Stock With Momentum: Prestar Resources
http://www.theedgemarkets.com/my/article/stock-momentum-prestar-resources?type=Stock%20with%20Momentum
