Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on November 2, 2015.

 

Weida (M) Bhd (+ve)

WEIDA (Fundamental: 1.7/3 Valuation: 2.4/3), triggered our momentum algorithm for the first time last Friday. The stock closed 9 sen or 5.4% higher at RM1.77 on heavy volume, despite absence of significant developments.

Sarawak-based WEIDA is primarily involved in the manufacturing of polyethylene-based building materials, and construction of telecommunication towers and water & wastewater treatment plants. For FYMar2015, the manufacturing and construction segments accounted for 54.3% and 26.5% of revenue, respectively. It is also involved in property development, sewage treatment, waste management and quarry operations.

For 1QFY2016, net profit surged 145.1% y-y to RM9.4 million on the back of a 48.7% revenue growth to RM102.9 million. This was mainly contributed by higher sales from construction and property segments. Net debt stood at RM17.5 million at end-June, compared to a net cash of RM94.6 million in FY2013.

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