KUALA LUMPUR (July 30): Shares in Lee Swee Kiat Group Bhd rises 2.5 sen or 6.58% to a 10-year high today of 40.5 sen, adding about RM25.92 million to its market value compared with about three weeks ago on July 10.

At 2.38pm, the stock was trading steady at 40.5 sen, after some 24.42 million shares were done, making it the fifth most actively traded stock across the bourse today.

The stock’s uptrend began on July 10, when it was trading at 23 sen. The price rally has resulted in its market value rising about 67% to RM64.61 million from RM38.69 million on July 10.

Lee Swee Kiat  (fundamental: 1.7; valuation: 1.1) is a mattress manufacturer with one stop production lines including natural latex, memory foam and various spring productions.

Speaking to theedgemarkets.com earlier this week, its managing director Eric Lee had said the company has no major corporate announcements in the near term.

A remisier had also said the share price rally could be due to some people pushing up the share price to make some gains.

"I do not know the exact reason. But it could be due to penny stocks rotation activities," he had added.

(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.)