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Stock With Momentum: Weida
by Cals Mon 02 Nov 2015, 19:01
Stock With Momentum: Weida
By Asia Analytica / The Edge Financial Daily | November 2, 2015 : 10:18 AM MYTThis article first appeared in The Edge Financial Daily, on November 2, 2015.
[size=16]Weida (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 1.70) (+ve)
WEIDA (Fundamental: 1.7/3 Valuation: 2.4/3), triggered our momentum algorithm for the first time last Friday. The stock closed 9 sen or 5.4% higher at RM1.77 on heavy volume, despite absence of significant developments.
Sarawak-based WEIDA is primarily involved in the manufacturing of polyethylene-based building materials, and construction of telecommunication towers and water & wastewater treatment plants. For FYMar2015, the manufacturing and construction segments accounted for 54.3% and 26.5% of revenue, respectively. It is also involved in property development, sewage treatment, waste management and quarry operations.
For 1QFY2016, net profit surged 145.1% y-y to RM9.4 million on the back of a 48.7% revenue growth to RM102.9 million. This was mainly contributed by higher sales from construction and property segments. Net debt stood at RM17.5 million at end-June, compared to a net cash of RM94.6 million in FY2013.
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