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Stock With Momentum: Sanichi
by Cals Sat 07 Nov 2015, 02:29
Stock With Momentum: Sanichi
By Asia Analytica / The Edge Financial Daily | November 6, 2015 : 10:48 AM MYTThis article first appeared in The Edge Financial Daily, on November 6, 2015.
[size=24]Sanichi Technology Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 0.90) (-ve)
SHARES of Sanichi (Fundamental: 0.9/3, Valuation: 1.5/3) climbed 11.8% to close at 9.5 sen on rising volume yesterday.
Substantial shareholder, Mah Wee Hian, has been accumulating shares of Sanichi, since October 2014. He now owns a 10.75% stake, up from 8.65% previously.
Principally involved in the fabrication of precision plastic injection moulds, the company’s major clients — automakers including Audi AG and Volkswagen Group — contributed up to 80% of revenue in FYJune2015.
For FY15, revenue almost doubled to RM42.8 million, thanks to increased sales from the European and Asia Pacific markets. Net profit grew by a smaller 31.3% to RM3.0 million, owing to ESOS expenses of RM6.2 million.
Last year, Sanichi ventured into property development with the purchase of a 2.1-acre land in Klebang, Malacca. The mixed development project carries a gross development value of about RM200 million, and is expected to contribute a profit of around RM40 million over the next three years.
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