This article first appeared in The Edge Financial Daily, on June 9, 2016.
Kein Hing International Bhd (+ve)
SHARES in Kein Hing International Bhd (fundamental: 1/3, valuation: 1.4/3) triggered our momentum algorithm for the second time this year. The counter closed one sen lower or 0.91% at RM1.09 yesterday, with some 1.8 million shares traded. In comparison, its 200-day average volume is only around 413,374 shares.
The metal parts manufacturer posted a net profit of RM3.83 million in the third financial quarter ended Jan 31, 2016 (3QFY16), a jump of 468% from RM674,000 a year ago, on higher sales order for tooling and a surge in demand for parts from home appliance and printer manufacturers.
Revenue grew 27.4% to RM58.81 million from RM46.15 million.
For 9MFY16, its net profit surged 223.4% to RM8.99 million from RM2.78 million. Revenue climbed 17.2% to RM168.16 million from RM143.53 million.
The stock currently trades at a trailing 12-month price-earnings ratio of 10.87 times and is at 1.06 times book value. Its trailing 12-month dividend yield is at 0.91%.
KEINHIN (7199) - Stock With Momentum: Kein Hing International
http://www2.theedgemarkets.com/my/article/stock-momentum-kein-hing-international
