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Stock With Momentum: GE-SHEN Corporation
by Cals Tue 21 Jul 2015, 16:56
Stock With Momentum: GE-SHEN Corporation
GE-SHEN Corporation Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
GE-SHEN (Fundamental: 2.2/3, Valuation: 1.1/3) was last picked by our system on June 10 at 76 sen.
Since then, the stock has climbed to a 5-year high of 87 sen last Thursday, before paring some gains to close at 86 sen yesterday.
Based in Johor, Ge-Shen is a manufacturer of high precision plastic moulded products. Last year, it disposed of its two loss-making subsidiaries, which are involved in the distribution of cosmetics products and the manufacturing of fibre products.
In 2Q15, the company has completed the acquisition of a 75% stake in Polyplas Sdn Bhd for RM33.76 million. Polyplas, a Penang-based plastic parts manufacturer, is about half the size of Ge-Shen in term of revenue but commands better margins. In 2014, Polyplas posted a net profit of RM7.83 million on the back of RM43.96 million in revenue.
The acquisition was partially funded by the issuance of 30 million redeemable convertible preference shares at RM0.60 each.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 21, 2015.
GE-SHEN Corporation Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
GE-SHEN (Fundamental: 2.2/3, Valuation: 1.1/3) was last picked by our system on June 10 at 76 sen.
Since then, the stock has climbed to a 5-year high of 87 sen last Thursday, before paring some gains to close at 86 sen yesterday.
Based in Johor, Ge-Shen is a manufacturer of high precision plastic moulded products. Last year, it disposed of its two loss-making subsidiaries, which are involved in the distribution of cosmetics products and the manufacturing of fibre products.
In 2Q15, the company has completed the acquisition of a 75% stake in Polyplas Sdn Bhd for RM33.76 million. Polyplas, a Penang-based plastic parts manufacturer, is about half the size of Ge-Shen in term of revenue but commands better margins. In 2014, Polyplas posted a net profit of RM7.83 million on the back of RM43.96 million in revenue.
The acquisition was partially funded by the issuance of 30 million redeemable convertible preference shares at RM0.60 each.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 21, 2015.
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