This article first appeared in The Edge Financial Daily, on June 3, 2016.
Brite-Tech Bhd (+ve)
SHARES in Brite-Tech Bhd (fundamental: 2.7/3, valuation: 1.6/3) rose 35 sen or 11.48% to close at 34 sen yesterday. The counter saw 5.28 million shares changing hands, significantly higher than 44,669 units in the 200-day average volume.
Listed in 2002, Brite-Tech provides integrated water purification and waste water treatment solutions to a wide range of industries in Malaysia. The group on May 27 declared a final interim dividend of 0.63 sen per share for the financial year ended Dec 31, 2015 (FY15), payable on June 23.
Based on the closing price of 34 sen, the dividend yield stood at 1.85%.
The group’s net profit soared 80% to RM1.82 million for the first quarter ended March 31, 2016 (1QFY16) from RM1.02 million a year ago on higher revenue. Revenue also rose 30.3% to RM8.99 million from RM6.9 million in 1QFY15.
The counter is trading at a trailing 12-month price-earnings ratio of 13.96 times.
BTECH (0011) - Stock With Momentum: Brite-Tech