KUALA LUMPUR (Jan 14): Shares of Bright Packaging Industry Bhd continued its climb today from a three-year low in December, after clinching a US$15 million contract from Philip Morris International Inc’s Russian affiliate to supply aluminium foil.

At noon break, Bright Packaging settled 2.5 sen or 4.46% higher at 58.5 sen, a level not seen since September 2014.

Earlier, the counter rose as much as four sen or 7.12% to 60 sen. A total of 2.31 million shares changed hands by 12.30pm.

In comparison, the benchmark FBM KLCI ceded 0.32% to 1,742.66 points, after a series of higher closings in the past few trading days.

Yesterday, Bright Packaging (Fundamental Score: 1.3; Valuation Score: 0.9) announced a purchase-sale agreement with Zao Philip Morris Izhora to supply aluminium foil to the tobacco player.

The two-year contract runs through to Dec 31, 2016, and can be renewed for additional terms with a written agreement from the two parties.

The contract alone is almost equivalent to Bright Packaging’s turnover of RM52.22 million for its financial year ended Aug 31, 2013 (FY13).

However, in its 4QFY14, the aluminium packaging manufacturer slipped into the red with a net loss of RM3.85 million due to lower orders from its tobacco customers abroad. This compared with the previous corresponding quarter’s net profit of RM2.98 million.

Bright Packaging’s counter descended further shortly after and reached a low of 35.5 sen on Dec 17, 2014, which was the lowest since Dec 23, 2011.

The Edge Research data showed Bright Packaging was trading at a 12-month trailing price-earnings ratio of 48.83 times. It also scored a 4 out of 5 rating on the volatility score, implying a highly volatile share price movement relative to the broader market.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. A score of 0 means weak fundamentals and a score of 3 means strong fundamentals.

Meanwhile, the valuation score determines if a stock is attractively valued or not, calculated based on historical numbers. A score of 0 means valuations are not attractive, while a score of 3 means valuations are attractive.)