This article first appeared in The Edge Financial Daily on August 10, 2018
Samchem Holdings Bhd (-ve)
Trading of the shares in Samchem Holdings Bhd (fundamental: 0.9/3, valuation: 2.4/3) triggered our momentum algorithm yesterday for the second time this
year.
The counter closed 2.5 sen or 2.51% higher at RM1.02, with a market capitalisation of RM277.44 million, after 1.18 million shares were traded, more than its 200-day average trading volume of 688,670 shares.
In its first quarter ended March 31, 2018, Samchem’s net profit jumped 62% year-on-year (y-o-y) to RM8.11 million from RM5.01 million, mainly due to higher foreign exchange gain and sales.
Quarterly revenue grew 21% y-o-y to RM262.83 million from RM217.57 million, thanks to the higher sales volume.