This article first appeared in The Edge Financial Daily, on May 25, 2016.
Scope Industries Bhd (+ve)
SHARES in Scope Industries Bhd (fundamental: 1.35/3, valuation: 0.9 /3) triggered our momentum algorithm yesterday for the first time this year.
The counter closed one sen or 6.1% higher at 17.5 sen yesterday, with 1.4 million shares traded. This was higher than its 200-day average volume of 58,491 shares.
Scope Industries is involved in the trading, manufacturing and assembly of electric components and products, and has an oil palm plantation business.
The company remained loss-making in the second quarter ended Dec 31, 2015 (2QFY16), with a net loss of RM443,000, compared with a net loss of RM406,000 a year ago, due to a write-off of property, plants and equipment.
Revenue in 2QFY16 increased by 13.3% to RM5.16 million, compared with RM4.55 million a year ago, on higher manufacturing orders.
At its current share price, Scope Industries is trading at 0.8 times its book value.
SCOPE (0028) - Stock With Momentum: Scope Industries
http://www.theedgemarkets.com/my/article/stock-momentum-scope-industries
