This article first appeared in The Edge Financial Daily, on May 26, 2016.
O&C Resources Bhd (-ve)
SHARES in O&C Resources Bhd (fundamental: 0.35/3; valuation: 0/3) triggered our momentum algorithm for the second time this month. The counter closed 9.5 sen or 15.97% higher at 69 sen yesterday.
Formerly known as Takaso Resources Bhd, O&C Resources saw 27.71 million shares change hands and it was the ninth most actively traded counter on Bursa Malaysia. Its 200-day average volume was at 1.95 million shares. Yesterday, Bursa Malaysia issued an unusual market activity query on the counter.
For its second financial quarter ended Jan 31, 2016, O&C Resources turned around with a net profit of RM169,000, from a net loss of RM787,000 a year ago, on unrealised foreign exchange gain and improvement of gross profit in rubber products and baby products as well as electrical and mechanical products. Revenue grew 25% to RM9.53 million from RM7.61 million.
The stock currently trades at 3.14 times book value.
OCR (7071) - Stock With Momentum: O&C Resources
http://www.theedgemarkets.com/my/article/stock-momentum-oc-resources?type=Stock%20with%20Momentum
