Guan Chong Bhd (+ve)
SHARES in cocoa product manufacturer Guan Chong Bhd (fundamental: 0.5/3, valuation: 0.8/3) closed seven sen or 5.22% higher at RM1.41 last Friday, with a market capitalisation of RM673.86 million.
It saw an average 2.94 million shares done, versus an average 415,888 shares traded in the last 200 days. The stock is currently trading at 1.57 times its book value.
Guan Chong shares are at their highest since January 2016. It was reported that the cocoa and chocolate product manufacturing firm expects strong demand and low input costs to help boost 2017 earnings from a year earlier.
Guan Chong managing director Brandon Tay was quoted as saying that 2017 “will be a good year, in which our orders are higher than production”.
“We are quite positive to achieve better results,” he added.