Stock With Momentum: FoundPac Group

This article first appeared in The Edge Financial Daily, on July 3, 2018.
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FoundPac Group Bhd (+ve)

Trading of the shares in FoundPac Group Bhd (fundamental:N/A, valuation:N/A) triggered our momentum algorithm yesterday for the fourth time this year.

The stock closed 3.5 sen or 11.86% higher at 33 sen, after 20.7 million shares were exchanged. In comparison, the stock saw an average trading volume of 3.18 million shares in the past 200 days.

FoundPac Group has not made any significant announcements to Bursa Malaysia since releasing its financial results for the third quarter ended March 31, 2018 (3QFY18) in May.

Its 3QFY18 net profit fell 39% year-on-year to RM1.82 million from RM2.96 million, mainly due to the lower other income, higher staff-related expenses as a result of share option granted under its Employee Share Option Scheme, and higher foreign exchange loss due to the strengthening of the ringgit against the US dollar.