-->

Type something and hit enter

Pages

Singapore Investment


On

Hiap Teck Venture Bhd (+ve)

STEEL pipe manufacturer Hiap Teck Venture Bhd (valuation: 1.2/3, fundamental: 0.65/3) shares hit 40 sen at yesterday’s close with 43.07 million shares traded, or five times their 200-day average volume of 7.76 million shares. The counter closed 1.5 sen or 3.9% higher, breaching its 14-month high for the second consecutive trading day.

Year to date, Hiap Teck has gained 40.35% with a market capitalisation of RM517.03 million presently. Shares in Hiap Teck first hit 39 sen on June 30, on impressive financial results for the third quarter ended April 30, 2017, as net profit jumped over 200% to RM31.9 million from RM10.6 million on improved margins. Revenue grew 4% to RM297.1 million from RM285.1 million previously, thanks to better steel prices, which raised its selling prices.

The group’s cumulative nine months ended April 30, 2017 saw it return to the black with a net profit of RM34.9 million, from a net loss of RM49.4 million a year ago, while revenue dipped 4% to RM845.4 million from RM877.5 million.



http://www.theedgemarkets.com/article/stock-momentum-hiap-teck-venture-2

Back to Top