UMA Johore Tin gets UMA query after share price hits all-time high

by **Cals** Sat 07 Nov 2015, 02:30

UMA

[size=28]Johore Tin gets UMA query after share price hits all-time high

By Gho Chee Yuan / theedgemarkets.com | November 6, 2015 : 3:29 PM MYT

KUALA LUMPUR (Nov 6): Johore Tin Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.00), which saw its share price rise over 50% over the past month to hit its all-time high of RM2.66 today, was slapped with an unusual market activity (UMA) query by Bursa Malaysia over the recent sharp rise in its share price.

At 3.02pm, the stock was left unchanged at RM2.58 compared to yesterday's close, after rising as much as 3.1% this morning. Trading volume was only 759,100 shares.

In the UMA query today, the stock exchange regulator asked Johore Tin to disclose any possible reason that could account for the unusual trading of its shares.

Bursa also advised investors to take note of the company's reply to the UMA query later, which will be posted on Bursa Malaysia's website.

For the second financial quarter ended June 30, 2015 (2QFY15), Johore Tin was back in the black with a net profit of RM6.68 million, compared to a net loss of RM256,000 a year ago, as its revenue surged 93.4% to RM113.63 million from RM58.76 million last year.

It was previously reported that the company had experienced product quality issue in its condensed milk segment in 2QFY14, caused by a contamination in its production lines, which resulted in its first quarterly loss since its only full year loss in FY07.

Management has since resolved the issue. As for the cumulative six-month period ended June 30, its net profit more than doubled to RM10.66 million on the back of a 70% higher revenue of RM204.41 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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