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Stocks With Momentum: Farm’s Best
by Cals Fri 20 Mar 2015, 02:37
Stocks With Momentum: Farm’s Best
By theedgemarkets.com / theedgemarkets.com | March 19, 2015 : 10:46 AM MYT
Farm’s Best Bhd (+ve)
FARM’S Best (Fundamental: 0.35/3, Valuation: 0.9/3) is seeing renewed investors interest, since its share price fell to a low of 57.5 sen in mid-December. The stock shot up to an intra-day high of 82 sen before closing at 81 sen yesterday. Almost 5.4 million shares were traded, compared with just 259,900 the day before.
In its 2014 results released late-February, revenue posted a 8% y-y decline to RM418.3 million while net profit was almost halved from RM4.33 million to just RM2.25 million. This was due, mainly, to lower sales volume of live broilers and table eggs as well as lower average selling prices.
Farm’s Best is in the midst of a reverse takeover exercise by [size=14]SHH Holdings Sdn Bhd. The latter will inject into the company its poultry business in China for new shares. In December 2014, the conditional period to complete the corporate exercise, including the proposed acquisition, was extended to 11th June 2015.
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This article first appeared in The Edge Financial Daily, on March 19, 2015.
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By theedgemarkets.com / theedgemarkets.com | March 19, 2015 : 10:46 AM MYT
Farm’s Best Bhd (+ve)
FARM’S Best (Fundamental: 0.35/3, Valuation: 0.9/3) is seeing renewed investors interest, since its share price fell to a low of 57.5 sen in mid-December. The stock shot up to an intra-day high of 82 sen before closing at 81 sen yesterday. Almost 5.4 million shares were traded, compared with just 259,900 the day before.
In its 2014 results released late-February, revenue posted a 8% y-y decline to RM418.3 million while net profit was almost halved from RM4.33 million to just RM2.25 million. This was due, mainly, to lower sales volume of live broilers and table eggs as well as lower average selling prices.
Farm’s Best is in the midst of a reverse takeover exercise by [size=14]SHH Holdings Sdn Bhd. The latter will inject into the company its poultry business in China for new shares. In December 2014, the conditional period to complete the corporate exercise, including the proposed acquisition, was extended to 11th June 2015.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 19, 2015.
[/size]
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