MAXWELL (5189) - Stock With Momentum: Maxwell Int'l Holdings
By Asia Analytica / The Edge Financial Daily | August 9, 2016 : 10:45 AM MYT
Maxwell Int'l Holdings Bhd (+ve)
Shares in Maxwell International Holdings Bhd (fundamental: 1.2/3, valuation: 0.9/3) triggered our momentum algorithm for the first time this year.
The group saw some 7.32 million shares traded yesterday, versus its 200-day average volume of 309,087.5. Maxwell rose 1.5 sen or 75% to close at 3.5 sen.
The sports shoe manufacturer has recently been classified under Practice Note 17 status, following a disclaimer of opinion issued by external auditor Baker Tilly Monteiro Heng in its audited financial statements for the financial year ended Dec 31, 2015.
The auditor said Maxwell was unable to provide complete supporting documents for advertising and promotion expenses of RM57.25 million, incurred by Maxwell (Xiamen) Co Ltd, a subsidiary of the company.
Maxwell currently trades at 0.01 times its book value. The company has not paid dividends since 2012.
MAXWELL (5189) - Stock With Momentum: Maxwell Int'l Holdings
http://www.theedgemarkets.com/my/article/stock-momentum-maxwell-intl-holdings
