Stock With Momentum: Khee San

This article first appeared in The Edge Financial Daily, on January 14, 2019.
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Khee San Bhd (+ve)
TRADING of shares in Khee San Bhd (fundamental: 0.3/3, valuation: 2/3) triggered our momentum algorithm last Friday for the first time this year.

Khee San closed unchanged at 60 sen last Friday. Its trading volume swelled to 311,500 shares compared with its 200-day average volume of 63,133.5 shares. The group's market capitalisation stood at RM62.40 million.

The group is principally involved in the manufacturing of sweets and confectionery products, including brands like Victory, Fruit Plus, Torrone and Bento.

After being reprimanded by the Securities Commission for failing to comply with approved accounting standards, Khee San appointed Kreston John and Gan in November to re-audit the group’s audited financial statement for the financial year ended June 30, 2015 (FY15) and FY16.

Kreston John and Gan have also been appointed external auditor to conduct an assessment of the scope, functions, competency and resources of the group’s financial reporting function.