GPA Holdings Bhd (+ve)
GPA Holdings Bhd (fundamental: 1.2/3, valuation: 0.9/3), which made it to our Stocks with Momentum list yesterday for the second time this month, closed half a sen or 4.76% higher at 11 sen.
A total of 2.28 million shares were done, versus the counter’s 200-day average trading volume of 242,249.5 shares.
The group manufactures automotive batteries for the domestic and export markets. It also manufactures rechargeable maintenance-free sealed lead acid batteries used as a back-up power source for standby and cyclical applications
On March 6, GPA ceased trading and distributing personal care products under its subsidiary Kenola Sdn Bhd to mitigate its negative impact and losses on the group.
Its financial year 2019 (FY19) earnings are expected to be affected by an impairment loss and retrenchment cost to be incurred. However, it expects an improvement in its overall operating results for FY20.