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Stock With Momentum: Amalgamated Industrial Steel

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Stock With Momentum: Amalgamated Industrial Steel

Post by Cals Thu 12 May 2016, 00:01

Stock With Momentum: Amalgamated Industrial Steel

By Asia Analytica / The Edge Financial Daily | May 11, 2016 : 11:51 AM MYT

This article first appeared in The Edge Financial Daily, on May 11, 2016.

Amalgamated Industrial Steel Bhd (-ve)

Shares in Amalgamated Industrial Steel Bhd (AISB) (fundamental: 0.55/3, valuation: 0.9/3) triggered our momentum algorithm for the first time, after 158,000 shares exchanged hands. The counter closed 2.5 sen or 6.41% lower at 36.5 sen yesterday.

AISB, which is involved in the manufacturing of steel products, was recently under investigation by the Royal Malaysian Customs Department as part of an industry-wide audit of steel product importers.

Last month, the company announced that the Customs had verified records of two importations of hot-rolled coils, adding that there were no irregularities.

For the financial year ended Dec 31, 2015, it dipped into the red with a net loss of RM6.5 million, compared to a net profit of RM401,000 in the previous year, on the back of a 13% fall in revenue to RM69.76 million, from RM80.33 million.

The stock trades at 0.43 times its book value. AISB did not declare any dividends for 2015.

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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€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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