Stock With Momentum: Minho

This article first appeared in The Edge Financial Daily, on September 12, 2018.
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Minho (M) Bhd (-ve)

Trading of shares in Minho (M) Bhd (fundamental: 1.55/3; valuation: 2/3), which triggered our proprietary momentum algorithm last Friday for the third time this month, closed up one sen or 1.85% at 55 sen, with a market capitalisation of RM122.03 million.

A total of 1.29 million shares changed hands, versus its 200-day average trading volume of 62,262 shares.

Minho is mainly involved in manufacturing, exporting and dealing in logs and processed timber products.

It posted a 40% increase in net profit to RM4.32 million in the second quarter ended June 30, 2018 (2QFY18) from RM3.09 million a year ago, mainly attributed to the combined increases in turnover for the timber extraction, manufacturing, services and treatment and others market segments.

Quarterly revenue remained flattish at RM71.33 million compared with RM70.93 million in 2QFY17.