Bursa Alert
Global Market
NewsStock With Momentum: Formosa Prosonic
Page 1 of 1
Stock With Momentum: Formosa Prosonic
by Cals Thu 05 Nov 2015, 18:27
Stock With Momentum: Formosa Prosonic
By Asia Analytica / The Edge Financial Daily | November 5, 2015 : 10:33 AM MYTThis article first appeared in The Edge Financial Daily, on November 5, 2015.
[size=16]Formosa Prosonic Industries Bhd ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 1.95) (-ve)
SHARES of Formosa (Fundamental: 1.95/3, Valuation: 2/3) triggered our momentum algorithm for the first time yesterday. The stock, which has been actively traded since early October, rose 7.1% to close at 75 sen despite absence of material announcements.
Formosa is primarily an original equipment manufacturer and distributor of speaker systems. Its clients include multi-national companies like Sony, JVC and Panasonic.
Despite its strong balance sheet, Formosa’s earnings have been declining since FY2012. For 1H2015, revenue dropped 12.7% y-y to RM192.4 million while net profit fell 68.2% to RM1.3 million, due to lower domestic sales and intense competition. Net cash stands at RM139.3 million, or a substantial 80.5% of its market valuation.
Notably, Wistron Corporation became Formosa’s largest shareholder in March 2014 after acquiring a 28% stake for RM55.4 million or 80 sen per share. Wistron is a US$1.3 billion ICT company listed on the Stock Exchange of Taiwan.
[You must be registered and logged in to see this image.]
[/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» Stock With Momentum: Formosa Prosonic Industries
» Stocks With Momentum LBS Bina, Anzo Holdings, Innity Corp, Formosa Prosonic
» Stocks With Momentum Kimlun, Caely, Mercury, Eurospan, Ekovest, Guan Chong, Formosa Prosonic, Zecon, Kein Hing, BHS Industries
» Formosa Prosonic 1Q net profit falls 39% y-o-y to RM1.1m
» Nov 7th- Companies in the news BLand, SLP Resources, Fitters Diversified, Damansara Realty, DiGi, Formosa Prosonic, Genting Plantations, Mah Sing and
» Stocks With Momentum LBS Bina, Anzo Holdings, Innity Corp, Formosa Prosonic
» Stocks With Momentum Kimlun, Caely, Mercury, Eurospan, Ekovest, Guan Chong, Formosa Prosonic, Zecon, Kein Hing, BHS Industries
» Formosa Prosonic 1Q net profit falls 39% y-o-y to RM1.1m
» Nov 7th- Companies in the news BLand, SLP Resources, Fitters Diversified, Damansara Realty, DiGi, Formosa Prosonic, Genting Plantations, Mah Sing and
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum