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Stock With Momentum: EG Industries

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Stock With Momentum: EG Industries

Post by Cals Thu 12 Nov 2015, 23:28

Stock With Momentum: EG Industries

By Asia Analytica / The Edge Financial Daily | November 12, 2015 : 10:29 AM MYT

This article first appeared in The Edge Financial Daily, on November 12, 2015.

[size=16]EG Industries Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 0.95) (-ve)
Shares of EG Industries (Fundamental: 0.95/3, Valuation: 1.1/3) closed 3.0% lower at 82 sen yesterday on active trade, after its new shares and warrants started trading on Bursa.
To recap, the company’s 3-for-2 renounceable rights issue with 1-for-2 free warrants has been oversubscribed by 12.9%, raising a total of RM57.8 million. The proceeds will be used to expand its manufacturing facilities and upgrade existing machineries.
EG is principally involved in the provision of electronic manufacturing services to the electronics, electrical and telecommunication sectors. In July 2014, Singapore-listed Jubilee Industries Holdings Ltd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 0.95) emerged as EG’s single largest shareholder with a 26% stake. Jubilee has since increased its stake to 32.38%.
For FYJun2015, revenue dropped 9.2% to RM636.1 million while net profit surged 13-fold to RM26.5 million, boosted by higher margin sales mix and a fair value gain of RM14.6 million on disposal of financial assets.
[You must be registered and logged in to see this image.]

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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€
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