UMA Ajinomoto unaware of reason behind of share price spike

by **Cals** Fri 18 Dec 2015, 20:36

UMA
Ajinomoto unaware of reason behind of share price spike
By Gho Chee Yuan / theedgemarkets.com | December 18, 2015 : 2:11 PM MYT

KUALA LUMPUR (Dec 18): Ajinomoto (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 2.80), whose share price rose as much as RM1.99 or 27.22% over the past week, said it is not aware of any factor that may have contributed to its unusual trading activity (UMA).
In a reply to Bursa Malaysia's UMA query today, the monosodium glutamate (MSG) manufacturer said it is not aware of any corporate development in relation to the group's business and affairs that has not been previously announced.
"The board was not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity," it said.
The uptrend trajectory began on Dec 10, which saw its share price surge to its all-time high of RM9.30 on Wednesday (Dec 16) from RM7.31 then.
Year to date, the counter has risen RM3.30 or 60%, outperforming FBM KLCI's 6.42% decline.
For the second financial quarter ended Sept 30, 2015 (2QFY16), its net profit jumped 62.47% to RM12.38 million from RM7.62 million a year ago. Revenue was up 6.22% at RM93.96 million from RM88.46 million in 2QFY15.
For the first half ended Sept 30, 2015 (1HFY16), net profit surged 43.1% year-on-year to RM22.7 million on the back of an 8.5% growth in revenue to RM189.5 million. The increase in net profit was mainly due to higher sales and better profit margins from export sales.
(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.)