Stock With Momentum: Johore Tin

This article first appeared in The Edge Financial Daily, on January 9, 2019.
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Johore Tin Bhd (-ve)
Trading in shares of Johore Tin Bhd (fundamental: 2.5/3, valuation: 1.4/3) triggered our stocks with momentum algorithm yesterday for the second time this week.

The counter closed up six sen or 5.66% at RM1.12 yesterday, after 3.02 million shares were traded, higher than its 200-day average volume of 325,629 shares. Its latest price gives it a market capitalisation of RM347.73 million.

Johore Tin is mainly involved in the manufacturing of tins, cans, other containers and printing of tinplates, as well as manufacturing and selling of milk and related dairy products.

For the third quarter ended Sep 30, 2018 (3QFY18), Johore Tin reported a 56.5% year-on-year increase in net profit to RM12.6 million, attributed to lower marketing and promotional expenses in its food and beverage division.

As at yesterday, its shares were trading at 1.13 times its net book value.