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Stocks With Momentum: Ewein
by Cals Sat 04 Apr 2015, 01:42
Stocks With Momentum: Ewein
By theedgemarkets.com / theedgemarkets.com | April 3, 2015 : 10:43 AM MYT
[size=14]Ewein Berhad ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
EWEIN (Fundamental: 1.1/3, Valuation: 1.8/3) saw over 1.4 million shares traded in the past two days while its share price gained 3.51% to close at 59 sen yesterday. The stock was little traded in the preceding six months.
The spike in interest came after the company announced that its subsidiary had received approval for the development of a piece of land in Penang. This represents part of Ewein’s strategy to diversify from its core business — of precision sheet metal fabrication, design and fabrication of precision moulds, tools and dies — into property development.
The move is perhaps unsurprising given that the company has lost more than half its revenue from 2010 to 2013 while net profit fell from RM9.1 million to RM1.6 million. Profit in 2014 increased to RM3.46 million, but this was due, mainly, to higher contribution from associates and lower effective tax rate.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 3, 2015.
[/size]
By theedgemarkets.com / theedgemarkets.com | April 3, 2015 : 10:43 AM MYT
[size=14]Ewein Berhad ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
EWEIN (Fundamental: 1.1/3, Valuation: 1.8/3) saw over 1.4 million shares traded in the past two days while its share price gained 3.51% to close at 59 sen yesterday. The stock was little traded in the preceding six months.
The spike in interest came after the company announced that its subsidiary had received approval for the development of a piece of land in Penang. This represents part of Ewein’s strategy to diversify from its core business — of precision sheet metal fabrication, design and fabrication of precision moulds, tools and dies — into property development.
The move is perhaps unsurprising given that the company has lost more than half its revenue from 2010 to 2013 while net profit fell from RM9.1 million to RM1.6 million. Profit in 2014 increased to RM3.46 million, but this was due, mainly, to higher contribution from associates and lower effective tax rate.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 3, 2015.
[/size]
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