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Stock With Momentum: Ewein
by Cals Fri 29 May 2015, 00:19
Stock With Momentum: Ewein
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By Asia Analytica / The Edge Financial Daily | May 28, 2015 : 10:58 AM MYT
[size=14]Ewein Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
EWEIN (Fundamental: 1.55/3, Valuation: 1.1/3) has surged 78.0% to RM1.05 since it was first picked by our momentum algorithm on April 2.
Last Friday, the company clarified that it was not aware of any potential takeover offer nor received any takeover notice. It was responding to a news report, quoting unnamed sources, that Ewein could be the target of a reverse takeover, with the takeover price of between 90 sen and RM1.20.
Penang-based Ewein manufactures precision sheet metal fabricated parts and plastic injection moulding products. However, Ewein has diversified into property development, after earnings from its core business more than halved since 2010.
It owns a 60% stake in Ewein Zenith Sdn Bhd, a joint venture with Consortium Zenith BUCG Sdn Bhd, which will develop a 3.67 acre land in Penang with a GDV of RM800 million.
The stock trades at a high trailing 12-month P/E of 64.6 times and 2.02 times book.
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This article first appeared in The Edge Financial Daily, on April 27, 2015.
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By Asia Analytica / The Edge Financial Daily | May 28, 2015 : 10:58 AM MYT
[size=14]Ewein Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
EWEIN (Fundamental: 1.55/3, Valuation: 1.1/3) has surged 78.0% to RM1.05 since it was first picked by our momentum algorithm on April 2.
Last Friday, the company clarified that it was not aware of any potential takeover offer nor received any takeover notice. It was responding to a news report, quoting unnamed sources, that Ewein could be the target of a reverse takeover, with the takeover price of between 90 sen and RM1.20.
Penang-based Ewein manufactures precision sheet metal fabricated parts and plastic injection moulding products. However, Ewein has diversified into property development, after earnings from its core business more than halved since 2010.
It owns a 60% stake in Ewein Zenith Sdn Bhd, a joint venture with Consortium Zenith BUCG Sdn Bhd, which will develop a 3.67 acre land in Penang with a GDV of RM800 million.
The stock trades at a high trailing 12-month P/E of 64.6 times and 2.02 times book.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 27, 2015.
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