Eka falls 9% to intraday low after factory fire

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KUALA LUMPUR (Jan 30): Eka Noodles Bhd fell as much as 8.7% after the company announced its factory in Sarawak caught fire.

At 12.30pm, Eka (fundamental: 0.35; valuation: 0) fell as much as one sen to 10.5 sen after 911,900 shares changed hands. At 10.5 sen, Eka has a market capitalisation of RM25.2 million.

Yesterday, Eka said in a filing with Bursa Malaysia that the fire occured at around 6.30pm last Tuesday (Jan 27).

Eka said damages to the plant, which was rented to a third party, would amount to a conservative estimate of RM3 million.  

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)