This article first appeared in The Edge Financial Daily, on June 15, 2016.
Astral Supreme Bhd (-ve)
This is the second time that Astral Supreme Bhd (fundamental: 0.95/3, valuation: 0/3) has triggered our momentum algorithm. Its shares, which have gained by more than 20% this year, saw 6.52 million of them being traded yesterday. This compares with its 200-day average volume of 633,781.5.
Astral Supreme was reclassified under the construction sector on Bursa Malaysia, from industrial previously. The company has sought to improve its balance sheet with a series of exercises that include par value reduction, a rights issue with warrants and share premium reduction.
Last month, the stock exchange approved Astral Supreme’s listings of its rights shares, warrants-A, warrants-B and warrants-C.
The company’s shares, which closed half a sen higher at 14.5 sen yesterday, were valued at 2.62 times their net asset per share.
ASUPREM (7070) - Stock With Momentum: Astral Supreme
http://www2.theedgemarkets.com/my/article/stock-momentum-astral-supreme-0
