Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on September 19, 2016.

 

K Seng Seng Corp Bhd (-ve)

SHARES in K Seng Seng Corp Bhd (fundamental: 1.15/3, valuation: 1.4/3), which closed up 4 sen or 9.5% at 46 sen last Thursday, triggered our momentum algorithm for the first time this year.

It saw 1.49 million shares traded, compared to its 200-day average volume of 32,325 shares.

K Seng Seng makes secondary stainless steel products such as welded stainless steel tubes and pipes, and stainless steel industrial fasteners.

For the first half of its financial year ended June 30, 2016 (1HFY16) K Seng Seng reported a 49.7% rise in net profit to RM1.27 million from RM847,000 a year ago, mainly on higher margin due to lower cost of sales, though revenue slid to RM50.53 million from RM50.95 million.

At its current share price, K Seng Seng is trading at 0.6 times its book value.

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