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Stock With Momentum: Hartalega Holdings
by Cals Fri 10 Jul 2015, 17:57
Stock With Momentum: Hartalega Holdings
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By Asia Analytica / The Edge Financial Daily | July 10, 2015 : 10:27 AM MYT
[size=14]Hartalega Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
Hartalega (Fundamental: 2.6/3, Valuation: 0.5/3), the world’s largest producer of nitrile glove, saw its share price jump 3.5% on Wednesday, following announcement of a proposed 1-for-1 bonus issue.
However, the stock gave up some gains to close 1.5% lower at RM8.84 yesterday.
The stock appears expensive, trading at a trailing 12-month PE of 35.09 times. In comparison, Supermax and Top Glove are trading at 13.44-19.67 times while Kossan is valued at 27.82 times.
On July 7, Hartalega proposed a 1-for-1 bonus issue of 820.43 million shares of 50 sen each. The glove maker also proposed to increase its authorised share capital from the existing RM750 million, comprising 1.5 million shares to RM3 billion, comprising 6 billion shares.
For FYMar2015, although revenue increased 3.5% to RM1.15 billion, net profit fell 9.9% y-o-y to RM209.7 million, due mainly to competitive selling prices and start-up expenses for its Next Generation Complex (NGC) project.
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This article first appeared in The Edge Financial Daily, on July 10, 2015.
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[You must be registered and logged in to see this image.]
By Asia Analytica / The Edge Financial Daily | July 10, 2015 : 10:27 AM MYT
[size=14]Hartalega Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
Hartalega (Fundamental: 2.6/3, Valuation: 0.5/3), the world’s largest producer of nitrile glove, saw its share price jump 3.5% on Wednesday, following announcement of a proposed 1-for-1 bonus issue.
However, the stock gave up some gains to close 1.5% lower at RM8.84 yesterday.
The stock appears expensive, trading at a trailing 12-month PE of 35.09 times. In comparison, Supermax and Top Glove are trading at 13.44-19.67 times while Kossan is valued at 27.82 times.
On July 7, Hartalega proposed a 1-for-1 bonus issue of 820.43 million shares of 50 sen each. The glove maker also proposed to increase its authorised share capital from the existing RM750 million, comprising 1.5 million shares to RM3 billion, comprising 6 billion shares.
For FYMar2015, although revenue increased 3.5% to RM1.15 billion, net profit fell 9.9% y-o-y to RM209.7 million, due mainly to competitive selling prices and start-up expenses for its Next Generation Complex (NGC) project.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 10, 2015.
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