Friday 29 Mar 2024
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KUALA LUMPUR (Oct 29): Shares in D&O Green Technologies Bhd climb to a fresh eight-month high of 77 sen today with persistent buying interest since early last month.

At 3.45pm, the stock gained three sen, with a total of 13.4 million shares traded.

D&O's share price has been on a steady uptrend since early September. It has soared over 54% from 49.5 sen on Sept 3, to now value D&O at RM849.15 million.

D&O, controlled by savvy businessman Goh Nan Kioh, is one of the world's leading surface mount LED manufacturers for the global automotive industry.

It mainly provides services of original equipment manufacturer (OEM), original design manufacturer (ODM) and original branding manufacturer (OBM) in opto-semiconductor products, catered for automotive, general lighting, backlight unit and sensor applications.

At the time of writing, the buying impetus for the stock is not known. The company is due to announce its third quarter earnings figure by end-November.

The group's net profit has jumped nearly 50 times from RM733,000 in its financial year ended Dec 31, 2014 (FY14) to RM35.96 million in FY18, against a 15% revenue growth during the period to RM490.78 million.

It is currently renovating a new factory adjacent to its existing plant in Melaka for the relocation of its supporting office functions towards the end of this year, thus freeing up space for future production floor expansion.

D&O said the group believes the prospects for automotive LED remain bright and intact, driven primarily by rising LED adoption in automotive lighting applications in pursuit of improved safety features, better driver and passenger comfort and a more attractive aesthetic.

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