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Hot Stock Tiong Nam jumps 5% on profit growth
by Cals Tue 20 Aug 2013, 10:53
Hot Stock Tiong Nam jumps 5% on profit growth
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Tuesday, 20 August 2013 10:27
KUALA LUMPUR (August 20): TIONG NAM LOGISTICS HOLDINGS [] Bhd rose as much as 5% after the firm reported a 739% jump in first quarter profit from a year earlier mainly on the group's property development income.
This compares to an absence of property development income previously. At 10.11am, Tiong Nam was traded at RM4.72 with some 80,000 shares done. The exchange's fourth-largest gainer had earlier advanced as much as 21 sen to RM4.80,
Kenanga Investment Bank Bhd wrote in a note today that Tiong Nam shares' immediate support and resistance are seen at RM4.47 and RM4.60 respectively. Tiong Nam's latest reported book value per share came to RM3.63
Yesterday, Tiong Nam said net profit jumped to RM15.35 million in the quarter ended June 30, 2013 from RM1.83 million. Revenue rose to RM124.23 million from RM79.64 million.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Tuesday, 20 August 2013 10:27
KUALA LUMPUR (August 20): TIONG NAM LOGISTICS HOLDINGS [] Bhd rose as much as 5% after the firm reported a 739% jump in first quarter profit from a year earlier mainly on the group's property development income.
This compares to an absence of property development income previously. At 10.11am, Tiong Nam was traded at RM4.72 with some 80,000 shares done. The exchange's fourth-largest gainer had earlier advanced as much as 21 sen to RM4.80,
Kenanga Investment Bank Bhd wrote in a note today that Tiong Nam shares' immediate support and resistance are seen at RM4.47 and RM4.60 respectively. Tiong Nam's latest reported book value per share came to RM3.63
Yesterday, Tiong Nam said net profit jumped to RM15.35 million in the quarter ended June 30, 2013 from RM1.83 million. Revenue rose to RM124.23 million from RM79.64 million.
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