This article first appeared in The Edge Financial Daily on March 21, 2018

Poly Glass Fibre (M) Bhd (-ve)
SHARES in Poly Glass Fibre (M) Bhd (fundamental: 2.3/3, valuation: 2.1/3) triggered our proprietary momentum algorithm yesterday for the second time this year.

The counter closed 1.5 sen or 2.78% higher at 55.5 sen, valuing it at RM89.59 million. The stock saw some 1.33 million shares traded, exceeding its 200-day average volume of 256,761 shares. In the third financial quarter ended Nov 30, 2017 (3QFY18), Poly Glass’ net profit rose 203.9% to RM2.9 million from RM954,000 a year ago on higher sales revenue achieved in its glass wool manufacturing division. Quarterly revenue grew 29.6% quarter-on-quarter to RM16.2 million in 3QFY18 from RM12.5 million in 3QFY17.

For the cumulative nine-month period ended Nov 30, 2017, Poly Glass’ net profit jumped 50.1% to RM3.33 million. Revenue clocked in 14.3% higher at RM42.74 million.

At the current share price, Poly Glass is trading at 0.55 times its book value.