Hot Stock Xin Hwa extends gain on second day of listing
Page 1 of 1
Hot Stock Xin Hwa extends gain on second day of listing
Hot Stock
Xin Hwa extends gain on second day of listing
[You must be registered and logged in to see this image.]
By Chester Tay / theedgemarkets.com | July 1, 2015 : 4:26 PM MYT
KUALA LUMPUR (July 1): Integrated logistics provider [size=14]Xin Hwa Holdings Bhd, which is into its second day of trading after an impressive debut on the Main Market of Bursa Malaysia yesterday, gained as much as 10 sen or 11.63% earlier today.
As at 4.06pm, the stock has pared some gains and was trading at 91 sen, still up 5 sen or 5.81%, after some 33.14 million shares were done, making it one of the top 10 most traded counters on the bourse today.
Xin Hwa capped its maiden day yesterday as the most actively traded stock across the board; it closed at 86 sen, up 16 sen or 22.9% after some 76.3 million shares changed hands.
After the listing ceremony, the group managing director Ng Aik Chuan had told reporters that Xin Hwa was optimistic about maintaining its double-digit net profit growth even after its five-year tax allowance from the government expires on March 17 next year.
Subsequent to the expiration, Xin Hwa’s tax rate would increase to 25% from 10%, which would likely impact its net profit growth.
Ng, however, said the group has plans to expand regionally and impose cost control measures to address the issue.
[/size]
Xin Hwa extends gain on second day of listing
[You must be registered and logged in to see this image.]
By Chester Tay / theedgemarkets.com | July 1, 2015 : 4:26 PM MYT
KUALA LUMPUR (July 1): Integrated logistics provider [size=14]Xin Hwa Holdings Bhd, which is into its second day of trading after an impressive debut on the Main Market of Bursa Malaysia yesterday, gained as much as 10 sen or 11.63% earlier today.
As at 4.06pm, the stock has pared some gains and was trading at 91 sen, still up 5 sen or 5.81%, after some 33.14 million shares were done, making it one of the top 10 most traded counters on the bourse today.
Xin Hwa capped its maiden day yesterday as the most actively traded stock across the board; it closed at 86 sen, up 16 sen or 22.9% after some 76.3 million shares changed hands.
After the listing ceremony, the group managing director Ng Aik Chuan had told reporters that Xin Hwa was optimistic about maintaining its double-digit net profit growth even after its five-year tax allowance from the government expires on March 17 next year.
Subsequent to the expiration, Xin Hwa’s tax rate would increase to 25% from 10%, which would likely impact its net profit growth.
Ng, however, said the group has plans to expand regionally and impose cost control measures to address the issue.
[/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
» Khazanah to gain most from listing of IHH Healthcare
» KLCI extends losses at mid-morning, new listing Pavilion most active
» Gold's 10 pct gain in 2011 extends run to 11th year
» Midday Market KLCI rises 0.39%, extends gain for third day
» SE Asia Stocks Bangkok extends gain; Jakarta at 2-week high
» KLCI extends losses at mid-morning, new listing Pavilion most active
» Gold's 10 pct gain in 2011 extends run to 11th year
» Midday Market KLCI rises 0.39%, extends gain for third day
» SE Asia Stocks Bangkok extends gain; Jakarta at 2-week high
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum