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Stock With Momentum: Len Cheong Holding

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Stock With Momentum: Len Cheong Holding

Post by Cals Tue 26 Apr 2016, 22:50

Stock With Momentum: Len Cheong Holding

By Asia Analytica / The Edge Financial Daily | April 26, 2016 : 10:46 AM MYT

This article first appeared in The Edge Financial Daily, on April 26, 2016.

Len Cheong Holding Bhd (+ve)
Wooden furniture maker Len Cheong Holding Bhd’s (fundamental: 0.75/3, valuation: 0.9/3) share price rose one sen to 37 sen yesterday. The stock only saw 4.6 million shares change hands, compared to its 200-day average volume of 529,905.5 shares.
The company announced last Friday that it plans to diversify into property development and that its wholly-owned subsidiary Len Cheong Resources Sdn Bhd will partner with Goldpeace Corp Sdn Bhd to jointly develop a parcel of freehold agriculture land in Melaka.
The stock has been picked as the Stock with Momentum nine times this year. The counter has gained 19.35% since it was first featured on March 4.
In its fourth quarter ended Dec 31, 2015 (4QFY15), Len Cheong saw a net profit of RM1.39 million compared to a net loss of RM1.73 million a year ago, mainly due to increased sales to overseas customers and strengthening US dollar against the ringgit, as well as mass volume production for export sales orders in 4QFY15.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
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€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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