UMA SWS Capital not aware of sudden price surge

by **Cals** Sat 05 Dec 2015, 00:10

UMA

[size=28]SWS Capital not aware of sudden price surge

By Gho Chee Yuan / theedgemarkets.com | December 4, 2015 : 9:30 PM MYT

KUALA LUMPUR (Dec 4): SWS Capital Bhd ([You must be registered and logged in to see this image.] Valuation: 0.30, Fundamental: 0.75), whose share price hit its all time high of RM1.23 today, said it is not aware of any factors which may have contributed to the recent spike in the trading volume of its share or its share price.

The kitchen and office furniture maker was replying to Bursa Malaysia's unusual market activity (UMA) query this evening.

At the end of trading hours, its counter, which rose as much as 22 sen or 17% earlier to as high as RM1.45, gave up some gains and settled at RM1.23, still up 16 sen or 13%, after 755,900 shares exchanged hands.

The current price values the company at RM184.56 million. The counter was the 11th top gainer across the exchange.

SWS Capital's shares has been on the rise since Nov 26 this year, when it was trading at 81 sen. It has gained 42 sen or 51.9% since.

Notably, SWS Capital saw the emergence of two new substantial shareholders two days ago (Dec 2), namely Tan Sri Tan King Tai and his wife Puan Sri Chan Mei Cheng, after a warrant conversion, with a direct and indirect holdings of 22.6%.

Tan is also a substantial shareholder of Muar Ban Lee Group Bhd ([You must be registered and logged in to see this image.] Valuation: 2.20, Fundamental: 1.65), where he has been a finance director since 2009.

For the financial year ended Aug 31, 2015 (FY15), SWS Capital posted a 92.4% fall in net profit to RM256,000, from RM3.37 million a year earlier, due to higher selling and distribution expenses.

Revenue for the year came in 1.4% lower at RM124.85 million, from RM126.62 million in FY14.

(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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