Stock With Momentum: Minho (M)

This article first appeared in The Edge Financial Daily, on September 5, 2018.
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Minho (M) Bhd  (+ve)
Shares in Minho (M) Bhd (fundamental: 1.55/3; valuation: 2/3) closed up one sen or 1.94% at 52.5 sen yesterday, giving it a market capitalisation of RM116.48 billion.

The stock saw 465,700 shares done, versus its 200-day average trading volume of 54,139 shares. Minho is mainly involved in the manufacturing and export of logs and processed timber products.

It posted a 40% jump in net profit to RM4.32 million in its second quarter ended June 30, 2018 from RM3.09 million a year ago, mainly attributed to higher contribution from almost all business segments, except its timber trading segment.

Quarterly revenue was flattish at RM71.33 million compared to RM70.93 a year ago.