Hot Stock YSP Sah share hits all time high

by **Cals** Wed 14 May 2014, 17:35

Hot Stock YSP Sah share hits all time high

Business & Markets 2014

Written by Jonathan Gan of theedgemalaysia.com

Wednesday, 14 May 2014 12:15

KUALA LUMPUR (May 14): YSP Southeast Asia Holdings Bhd, a supplier of pharmaceutical products, rose as high as 17% to its all-time high of RM1.85 in morning trades.

At 11.46 am, the stock was traded at RM1.65 after hitting RM1.85 in earlier trades. Volume transacted totalled 435,200 shares. It was one of the top risers when it hit RM1.85.

“The stock is expected to rally and volume is encouraging on the stock. We expect buying to follow through,” said technical analyst Khoh Wei Keen of Kenanga Investment Bank.

He told theedgemalaysia.com the immediate resistance for the stock is RM1.72, with subsequent targets at RM1.83 and RM1.92.

The company’s previous high of RM1.55 was attained on July 9th, 2013.

At press time, the company was unavailable for comment on the rise of the stock. This writer was told that the person in charge was overseas.

But according to Bursa Malaysia filing, a director of the company recently bought 130,000 shares in YSP Sah.

The company has been listed on Bursa Malaysia since 2004. It was transferred to the main board of Bursa Malaysia in June 2006, according to its website.

According to Bloomberg data, the company’s largest shareholder is Yung Shin Pharmaceutical Industries, a Taiwanese pharmaceutical company, which currently holds a 40% stake in the company.

One of its directors, Datuk Dr Lee Fang Shin, had acquired 130,000 shares through an off-market transaction on March 25, 2014

The company had also declared a final single-tier dividend of 6.5 sen per share subjected to shareholders' approval at its forthcoming annual general meeting.

YSP is a supplier of pharmaceutical products with a regional presence in Singapore, Vietnam, Cambodia, Myanmar, Indonesia and Thailand.