This article first appeared in The Edge Financial Daily, on June 27, 2016.
Hup Seng Industries Bhd (-ve)
The biscuit maker has triggered our momentum algorithm five times since the algorithm started tracking it, with all recording negative momentum. Hup Seng Industries Bhd (fundamental: 3/3, valuation: 2.1/3) shares have been see-sawing between RM1.20 and RM1.40 this year.
Hup Seng, which also exports its biscuits and crackers to Europe and North America, began the financial year ending Dec 31, 2016 (FY16), on a flat note. Its first quarter of FY16 net profit of RM13.6 million was little changed from last year’s RM13.23 million.
Meanwhile, the quarter’s net profit margin of 18.78% was slightly lower than the 19.07% registered in FY15, when softer commodity prices and a weaker ringgit played a factor in boosting its bottom line.
Hup Seng anticipates a challenging 2016, but has said it will continue to identify investment opportunities to grow its business.
HUPSENG (5024) - Stock With Momentum: Hup Seng Industries
http://www.theedgemarkets.com/my/article/stock-momentum-hup-seng-industries
