Stock With Momentum: Green Ocean Corp
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Stock With Momentum: Green Ocean Corp
Stock With Momentum: Green Ocean Corp
By Asia Analytica / The Edge Financial Daily | June 24, 2016 : 10:09 AM MYT- [You must be registered and logged in to see this image.]
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This article first appeared in The Edge Financial Daily, on June 24, 2016.
Green Ocean Corp Bhd (-ve)
SHARES in Green Ocean Corp Bhd (fundamental: 1.35/3, valuation: 0.3/3) saw some 2.45 million shares exchange hands yesterday, triggering our momentum algorithm for the fourth time. The counter closed unchanged at 11 sen.
The company had returned to the black in the financial year ended March 31, 2016, posting a net profit of RM297,000, compared to its net loss of RM706,000 in the previous year.
The improvement came as revenue almost quadrupled to RM72.3 million for the year from RM19.39 million, due to higher trading activities of palm oil products.
The stock currently trades at 1.42 times its book value.
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