Stock With Momentum: BP Plastics Holding

This article first appeared in The Edge Financial Daily, on July 20, 2018.
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BP Plastics Holding Bhd (-ve)

TRADING of the shares in BP Plastics Holding Bhd (fundamental: 2.05/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the first time this year. The group saw 19,900 shares traded compared with its 200-day average of 32,725 shares.

The stock rose four sen or 4.17% to close at RM1, leaving it with a market capitalisation of RM185.78 million.

BP Plastics was last traded at 1.09 times its book value. The polyethylene film-maker posted a 27.14% increase in net profit for the first quarter ended March 31, 2018 to RM4.61 million, from RM3.63 million a year ago.