Asia Poly Holdings Bhd (+ve)
Shares in Asia Poly Holdings Bhd (fundamental: 1.70/3, valuation: 1.40/3) triggered our momentum algorithm again when the stock rose 0.5 sen or 1.92% to 26.5 sen.
Some 10.25 million shares traded yesterday, compared with its 200-day average of 1.36 million.
Asia Poly is a manufacturer of A-Cast branded cast acrylic sheets. Datuk Yeo Boon Leong emerged as the group’s single largest shareholder last year, holding a 29.1% stake in the company.
For the latest nine months from April 1, 2015 to Dec 31, 2015, the group’s net profit jumped 15-fold to RM4.72 million, from RM313,000, although its revenue dropped nearly 5% to RM56.76 million, from RM59.71 million in the previous corresponding nine-month period.
The company attributed the higher earnings to lower cost of sales and share of profit in associates.
Asia Poly is trading at a trailing price-earnings ratio of 12.88 times and is at 2.03 times its book value.
ASIAPLY (0105) - Stock With Momentum: Asia Poly Holdings
http://www.theedgemarkets.com/my/article/stock-momentum-asia-poly-holdings-3
