This article first appeared in The Edge Financial Daily, on June 1, 2016.
Tex Cycle Technology (M) Bhd (-ve)
Tex Cycle Technology (M) Bhd (fundamental: 2.7/3, valuation: 1.1/3), which triggered our momentum algorithm for the first time yesterday, closed eight sen or 6.9% higher at RM1.24 with 693,300 units done, compared with its average 200-day volume of 273,603 units.
The company, which is involved in waste management for various industries, has seen its shares rise some 26.5% since May 9, when it was trading at 98 sen.
The company has recently declared an interim single-tier exempted dividend of 5% per share, payable by June 25, for its financial year ending Dec 31, 2016.
TEXCYCL (0089) - Stock With Momentum: Tex Cycle Technology (M)