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This article first appeared in The Edge Financial Daily on May 24, 2018

Box-Pak (Malaysia) Bhd (-ve)

SHARES in corrugated carton and die-cut trays manufacturer Box-Pak (Malaysia) Bhd (fundamental: 0.35/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year.

The stock closed four sen or 3.28% lower at RM1.18, with a market capitalisation of RM141.6 million. A total of 25,500 shares changed hands, exceeding its 200-day average volume of 12,787 shares.

Box-Pak’s net loss narrowed to RM817,000 in the fourth quarter ended Dec 31, 2017 from RM6.28 million a year ago, supported by other income gains and deferred taxation in the period. Quarterly revenue grew 12.63% to RM150.35 million from RM133.5 million a year ago.

However, Box-Pak’s cumulative losses for the full financial year ended Dec 31, 2017 (FY17) ballooned to RM15.35 million from a mere RM853,000 the year before. This was despite full-year revenue rising 10.39% to RM552.75 million from RM500.71 million in FY16.

At the current share price, the group is trading at 0.53 times its book value.

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