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Stock With Momentum: BHS Industries

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Stock With Momentum: BHS Industries

Post by Cals Wed 30 Dec 2015, 18:01

Stock With Momentum: BHS Industries

By Asia Analytica / The Edge Financial Daily | December 30, 2015 : 10:25 AM MYT

This article first appeared in The Edge Financial Daily, on December 30, 2015.

[size=16]BHS Industries Bhd ([You must be registered and logged in to see this image.] Valuation: 0.00, Fundamental: 1.20) (-ve)
PAPER printing materials manufacturer BHS (Fundamental: 1.2/3, Valuation: 0/3) has jumped 51.5% to 51.5 sen in two months since bottoming out at 34 sen on October 29. The Selangor-based company derived over half of its revenue from overseas markets, primarily Nigeria, Mozambique and Kenya.
For 1QFYJun2016, revenue plunged 52.6% y-y to RM6.3 million while net profit slumped 95.8% to RM0.2 million, mainly due to lower overseas sales. The company said its major overseas clients in Africa were affected by depressed crude oil prices and stronger USD.
BHS has recently completed its right issue with warrants, raising RM41.6 million. The proceeds will be used to fund the production of renewable paper pulp products using palm oil industry waste empty fruit bunches.
Notably, FELDA has been acquiring shares in the company. As of today, FELDA is the second largest shareholder with a stake of 11.3%, followed by Pelaburan MARA Bhd (10.6%).
[You must be registered and logged in to see this image.]

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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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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