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Stock With Momentum: Rubberex Corp
by Cals Fri 11 Dec 2015, 21:48
Stock With Momentum: Rubberex Corp
By Asia Analytica / The Edge Financial Daily | December 11, 2015 : 10:20 AM MYTThis article first appeared in The Edge Financial Daily, on December 11, 2015.
[size=16]Rubberex Corp (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 2.60, Fundamental: 1.00) (-ve)
RENEWED buying interest in Bursa-listed glove makers saw Rubberex (Fundamental: 1/3, Valuation: 2.6/3) triggering our momentum algorithm yesterday. Despite the heavy volume, the stock closed unchanged at 84 sen.
Rubberex manufactures and sells natural rubber, synthetic rubber and vinyl gloves, with production facilities in Malaysia and China. The company exports its products to over 100 countries.
In terms of expansion, Rubberex has committed RM21.3 million for capital expenditure as at end-September. Additionally, trial production at the second phase of the company’s nitrile glove project is expected to begin by the end of the year.
For 3Q2015, revenue declined 1.8% y-y to RM74.9 million while net profits rose 13.4% to RM3.4 million. The rise in profit margins was due to better product margins, improved performance from its China operations and favourable exchange rates.
Interestingly, Rubberex has been buying and selling its own shares in the open market in recent months.
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