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This article first appeared in The Edge Financial Daily on May 24, 2018

Aeon Credit Service (M) Bhd (+ve)

SHARES in Aeon Credit Service (M) Bhd (fundamental: 0.75/3, valuation: 2.1/3) triggered our momentum algorithm yesterday for the first time this year.

The stock closed 16 sen or 1.08% lower at RM14.70, with a market capitalisation of RM3.67 billion. A total of 578,100 shares changed hands, more than thrice its 200-day average volume of 168,802 shares.

Aeon Credit’s net profit rose 2.8% to RM82.31 million for the fourth financial quarter ended Feb 28, 2018 from RM80.05 million a year ago, mainly due to higher revenue. Quarterly revenue grew 6.3% to RM309.17 million from RM290.84 million a year ago.

At the current share price, the group is trading at 2.3 times its book value.

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