This article first appeared in The Edge Financial Daily, on December 3, 2015.

Halex Holdings Bhd (+ve)

Shares of Halex (Fundamental: 1.55/3, Valuation: 1.1/3) rose 12.8% to close at 61.5 sen yesterday, on heavy volume.

Two days earlier, the company announced its latest quarterly results. For the quarter ended September 2015, revenue fell 1.3% y-y to RM22.9 million, due mainly to lower contributions from agrochemical and horticulture segments. As a result, net profit slumped 45% to RM198,000.

Halex also announced the termination of its memorandum of understanding with Goh Teik Keng, in relation to a majority stake acquisition in VW Win Holdings Plc, a Cambodian lottery gaming company.

Halex is primarily involved in the manufacturing and distribution of agrochemicals, as well as disposable healthcare products.

Last month, the company bagged a supply contract to buy and package rice for FELDA under the Food Bank Project. The two-year contract, estimated to be worth up to RM184 million, is effective until 2017 with a one-year extension option.