Stock With Momentum: Poh Huat Resources Holdings Bhd

This article first appeared in The Edge Financial Daily, on July 24, 2018.
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Poh Huat Resources Holdings Bhd (-ve)
TRADING of the shares in Poh Huat Resources Holdings Bhd (fundamental: 2.8/3, valuation: 1.8/3) triggered our momentum algorithm yesterday for the first time this year.

The firm saw 2.08 million shares traded, compared with its 200-day average of 238,731.5 shares.

The stock rose eight sen or 5.67% to close at RM1.49, giving it a market capitalisation of RM347.52 million. Poh Huat was last traded at 1.04 times its book value.

Poh Huat has more than 30 years of experience in the furniture industry.

The company posted a flat net profit of RM10.84 million for the second quarter ended April 30, 2018, from RM10.6 million a year ago, while revenue slipped 1.66% to RM125.53 million from RM127.65 million previously.