UMA Johore Tin unaware of reason behind share price rise

by **Cals** Sat 07 Nov 2015, 02:30

UMA

[size=28]Johore Tin unaware of reason behind share price rise

By Ahmad Naqib Idris / theedgemarkets.com | November 6, 2015 : 5:52 PM MYT

KUALA LUMPUR (Nov 6): Johore Tin Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.00) said it is unaware of the reason behind the sharp rise in its share price, in response to an unusual market activity (UMA) query issued by Bursa Malaysia.

In a filing to Bursa, the company said it was not aware of any corporate development, rumour, report or any other explanation for the irregular trading in its shares.

To recap, Johore Tin's share price has appreciated 65% to close at RM2.58 yesterday (Nov 5), from its closing of RM1.56 on Oct 1.

The counter reached an all-time intraday high of RM2.66 today, before closing two sen or 0.78% lower at RM2.56 for a market capitalisation of RM240.7 million.

Johore Tin reported a net profit of RM6.68 million for the second quarter ended June 30, 2015, compared to a net loss of RM256,000 a year ago, on the back of a 93% surge in revenue of RM113.63 million from RM58.76 million.

For the six months to June 30, its net profit more than doubled to RM10.66 million, while revenue soared 70% to RM204.41 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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