Hot Stock IQ Group rises 6.22% on anticipated better 3QFY15 results

by **Cals** Mon 16 Feb 2015, 17:47

Hot Stock
IQ Group rises 6.22% on anticipated better 3QFY15 results

By Charlotte Chong / theedgemarkets.com | February 16, 2015 : 11:48 AM MYT

KUALA LUMPUR (Feb 16): Shares of Penang-based [size=14]IQ Group Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (fundamental score: 2.40; valuation score: 1.80) has soared 6.22% on the back of better results expected for its third quarter ended Dec 31 last year (3QFY15).

As at 11:10 am, the counter has risen 6.22% or 13 sen to RM2.22, with some 540,900 shares changing hands.

A bank-backed analyst notes that IQ's third quarter results (3QFY15), which is due to be released by the end of this month, is expected to be encouraging amid a stronger US dollar.

“About 90% of its products are exported and mainly transacted in US dollar,” she told theedgemarkets.com today.

She explained that the company largely export its products to the U.S., Europe and Japan, “Apart from Japan, most of its transactions are in US dollar.”

IQ is a security and convenience products supplier and produces sensor-controlled LED lighting.

Also, IQ is looking to penetrate the Middle East market over the next 12 months through tie-ins with trade show events, The Edge Financial Daily reported today.

“We’re exploring markets where we perceive there will be significant opportunities and one that we’re in the midst of exploring is the Middle East,” IQ Group chief executive officer Daniel John Beasly told the daily.

IQ was picked among its "Stocks with Momentum" by The Edge Research recently.

“IQ Group Holdings Bhd has significantly improved its earnings for FY March 2014, after years of erratic margins despite stable growth in turnover,” the research unit said.

It said that this came after the company launched new LED products to customers in Europe and Japan.

[size=12](Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)[/size]
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