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Hot Stock China Automobile rises 7% on Australia JV

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Hot Stock China Automobile rises 7% on Australia JV

Post by Cals Fri 09 Oct 2015, 00:18

Hot Stock

[size=28]China Automobile rises 7% on Australia JV

By Sangeetha Amarthalingam / theedgemarkets.com | October 8, 2015 : 1:36 PM MYT

KUALA LUMPUR (Oct 8): China Automobile Parts Holdings Ltd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 1.95) rose as much as 7% on a planned joint venture (JV) with Australia-listed Siburan Resources Ltd to distribute China Automobile's products there.

Yesterday, China Automobile announced that it signed the agreement with Siburan to establish the 50:50 JV. Siburan is an indirect major shareholder of China Automobile.

In Malaysia today, China Automobile shares rose as much as one sen to 15 sen.

At 12.30pm, the fourth most-active counter settled at 14.5 sen with some 49 million shares done. At 14.5 sen, China Automobile has a market capitalisation of RM168.4 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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