Chuan Huat Resources Bhd (+ve)
SHARES in Chuan Huat Resources Bhd (fundamental: 0.35/3, valuation: 1.1/3) triggered our momentum algorithm last Friday for the sixth time this year.
The stock closed two sen or 3.05% higher at 67.5 sen, with some 2.78 million shares traded. In comparison, it saw only an average 322,686 shares done in the past 200 days.
For its first quarter ended March 31, 2017, its net profit grew by four times to RM2.9 million from RM667,000 which it recorded in the same quarter last year, mainly due to higher revenues from its trading of hardware and building materials and information technology-related products.
Likewise, quarterly revenue grew 13% year-on-year to RM162.1 million from RM143.5 million.
The stock, trading at a book value of 0.41 times, has a trailing 12-month price-earnings ratio of 8.94 times. Its last traded price gives it a market capitalisation of RM113 million.