Stock With Momentum: Asian Pac Holdings Bhd

This article first appeared in The Edge Financial Daily, on July 25, 2018.
-A +A

Asian Pac Holdings Bhd (-ve)
TRADING in shares of Asian Pac Holdings Bhd (fundamental: 1.05/3, valuation: 2.1/3) triggered our momentum algorithm yesterday for the first time this year.

The counter saw 5.53 million shares traded, exceeding its 200-day average of 1.71 million shares. The stock gained 0.5 sen or 3.23% to close at 16 sen, with a market capitalisation of RM165.48 million. Asian Pac currently trades at 0.16 times its book value.

For its financial year ended March 31, 2018 (FY18), Asian Pac posted a 403.52% jump in net profit to RM44.39 million, from RM8.82 million a year ago, due to the increase in fair value gain from its investment properties, which was at RM35.3 million, amid a higher turnover rent and recovery of utility charges at its mall division. Revenue, however, slipped 27.86% to RM193.56 million, from RM268.33 million previously on completion of some of its property development projects.

For FY19, Asian Pac said it anticipates all of its three business divisions to continue the positive contributions.