Karex Bhd (-ve)
TRADING of shares in Karex Bhd (fundamental: 1.45/3, valuation: 1.2/3) triggered our momentum algorithm yesterday for the fourth time this year.
The stock, which hit a five-year low of 38 sen on Jan 31, closed at 52 sen yesterday, up 3.5 sen or 7.22% from the day before, with 31.68 million shares done, compared with the average of 5.85 million shares recorded in the past 200 days.
Karex chief executive officer Goh Miah Kiat told reporters earlier this month that he expected the current financial year ending June 30, 2020 to be a recovery year for the condom maker after two loss-making quarters.
Karex posted a net loss of RM167,000 for the financial quarter ended Sept 30, 2019, compared to a net profit of RM1.98 million for the same period a year earlier.
Karex, Goh said, would continue to ensure that it increases its operational efficiency via automation and a review of its supply chain.