This article first appeared in The Edge Financial Daily, on June 23, 2016.
SHH Resources Holdings Bhd (+ve)
SHARES in SHH Resources Holdings Bhd (fundamental: 3/3, valuation: 2.4/3) triggered our momentum algorithm on Tuesday for the first time this year.
It closed 13 sen or 6.74% higher at RM2.06 after 463,600 units changed hands, compared to its 200-day average volume of 167,442 units.
SHH Resources is principally engaged in the manufacturing of wood-based furniture such as bedroom suites, dining suites, buffet and hutches, entertainment sets, occasional items, home office furniture and armoires, primarily for exports.
For the third quarter ended March 31, 2016, the group’s net profit jumped 79.8% to RM2.76 million from RM1.54 million last year, helped by the stronger US dollar. This was despite the revenue dropping 5.9% to RM26.48 million compared with RM28.13 million a year ago, due to a decline in customer orders.
At its current share price, it is trading at a trailing 12-month price-earning ratio of 6.54 times.
SHH (7412) - Stock With Momentum: SHH Resources Holdings
http://www.theedgemarkets.com/my/article/stock-momentum-shh-resources-holdings
