Hot Stock Texchem jumps 16% on dividend after monetising Sushi Kin shares
Page 1 of 1
Hot Stock Texchem jumps 16% on dividend after monetising Sushi Kin shares
Hot Stock
Texchem jumps 16% on dividend after monetising Sushi Kin shares
By Yimie Yong / theedgemarkets.com | March 2, 2015 : 4:30 PM MYT
KUALA LUMPUR (March 2): [size=14]Texchem Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) jumped as much as 24 sen or 16% on news the company is paying a dividend of 10 sen a share, following completion of the disposal of a 28% stake in Sushi Kin Sdn Bhd for RM102.2 million.
Texchem (fundamental: 0.4; valuation: 1.2) rose to an intraday high of RM1.75, before paring gains. At 3.36 pm, Texchem was traded at RM1.69, with 2.32 million shares having changed hands.
The stock, which was among top gainers on Bursa Malaysia, was transacted at RM1.68 at 4:03pm.
For comparison, the FBM KLCI was down 5.13 points or 0.28% at 1,816.08 points.
In a statement to Bursa Malaysia today, Texchem declared an interim single-tier dividend of 10 sen a share for financial year ending Dec 31, 2015.
The dividend ex-date falls on upcoming March 13. Texchem will pay the dividend this April 1.
In a separate statement, Texchem said it recognised a gain of RM97.61 million from the disposal of the Sushi Kin stake.
The original cost of investment for the 28% Sushi Kin stake — acquired on Dec 29, 2003 — was RM4.59 million, according to Texchem.
[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]
[/size]
Texchem jumps 16% on dividend after monetising Sushi Kin shares
By Yimie Yong / theedgemarkets.com | March 2, 2015 : 4:30 PM MYT
KUALA LUMPUR (March 2): [size=14]Texchem Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) jumped as much as 24 sen or 16% on news the company is paying a dividend of 10 sen a share, following completion of the disposal of a 28% stake in Sushi Kin Sdn Bhd for RM102.2 million.
Texchem (fundamental: 0.4; valuation: 1.2) rose to an intraday high of RM1.75, before paring gains. At 3.36 pm, Texchem was traded at RM1.69, with 2.32 million shares having changed hands.
The stock, which was among top gainers on Bursa Malaysia, was transacted at RM1.68 at 4:03pm.
For comparison, the FBM KLCI was down 5.13 points or 0.28% at 1,816.08 points.
In a statement to Bursa Malaysia today, Texchem declared an interim single-tier dividend of 10 sen a share for financial year ending Dec 31, 2015.
The dividend ex-date falls on upcoming March 13. Texchem will pay the dividend this April 1.
In a separate statement, Texchem said it recognised a gain of RM97.61 million from the disposal of the Sushi Kin stake.
The original cost of investment for the 28% Sushi Kin stake — acquired on Dec 29, 2003 — was RM4.59 million, according to Texchem.
[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]
[/size]
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My 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
Similar topics
» Hot Stock Alcom jumps 13.5% on dividend
» Hot Stock LBS jumps 8% ahead of ex-dividend date
» Hot Stock Hwang-DBS jumps 19% on special dividend
» Hot Stock 9598 Pintaras jumps 10% on profit growth, dividend
» Hot Stock George Kent jumps 3.05% on stronger 3Q earnings, dividend
» Hot Stock LBS jumps 8% ahead of ex-dividend date
» Hot Stock Hwang-DBS jumps 19% on special dividend
» Hot Stock 9598 Pintaras jumps 10% on profit growth, dividend
» Hot Stock George Kent jumps 3.05% on stronger 3Q earnings, dividend
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum