Asia Poly Holdings Bhd (+ve)

Asia Poly (Fundamental: 0.55/3, Valuation: 0.5/3) was last picked by our momentum algorithm on July 3 at 63 sen.

It has since continued on an upward trajectory, rising 2.3% to close at an all-time high of 66 sen yesterday.

Last Friday, the company announced the entry of another new substantial shareholder, Tan Soon Hui, which acquired a 6.26% stake from the open market on June 30.  

On July 1, Lim Dan Qi, an Executive Director of Asia Poly, resigned from the company. She is part of the Lim family, who have disposed of their entire 27.6% stake in Asia Poly to Yeo Boon Leong, back in April. Yeo, whose business expertise is in the hardware industries, subsequently became the company’s executive chairman.

Based in Klang, Asia Poly manufactures cast acrylic sheets, which are used for back-lit lighting applications such as signboards and lighting displays.

This article first appeared in The Edge Financial Daily, on July 9, 2015.