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Stock With Momentum: SWS Capital
by Cals Wed 02 Dec 2015, 20:38
Stock With Momentum: SWS Capital
By Asia Analytica / The Edge Financial Daily | December 2, 2015 : 10:42 AM MYTThis article first appeared in The Edge Financial Daily, on December 2, 2015.
[size=16]SWS Capital Bhd ([You must be registered and logged in to see this image.] Valuation: 0.30, Fundamental: 0.75) (+ve)
FURNITURE maker SWS (Fundamental: 0.75/3, Valuation: 0.3/3) triggered our momentum algorithm for the first time yesterday on a sharp spike in volume. The stock rose as much as 30% before closing up 5% to RM1.05.
On Monday, the company proposed to undertake a private placement exercise. The proceeds, of up to RM10.8 million, are intended for business expansion and working capital.
Johor-based SWS is primarily involved in design, manufacture and sale of leather upholstery and wooden furniture products. The company stands to benefit from the weaker ringgit as export accounted for 73% of its revenue in FYAug2014.
For 4QFY2015, revenue rose 1.9% y-y to RM30.9 million while net profit surged 137.5% to RM2.3 million, mainly due to higher sale of leather upholstery sofa and the stronger USD.
No dividend was paid from FY2006-FY2013. However, SWS paid dividend of 1 sen per share in FY2014, giving a net yield of 1.0%.
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