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This article first appeared in The Edge Financial Daily, on September 15, 2016.

 

Leader Steel Holdings Bhd (-ve)Red Flag

SHARES in Leader Steel Holdings Bhd (fundamental: 0/3, valuation: 0.9/3) was also red-flagged by our proprietary algorithm yesterday, suggesting that investors should exercise extra caution while trading in its shares.

Yesterday was the seventh time the stock triggered our momentum algorithm. The counter closed up nine sen or 21.4% higher at 51 sen, after 8.05 million shares were exchanged.

In the first six months ended June 30, 2016, Leader Steel reported a net profit of RM2.82 million compared to a net loss of RM679,000 a year ago, due to higher selling prices in the steel pipe segment.

Revenue, however, slipped 4.4% to RM79.48 million from RM83.16 million a year ago.

The stock is currently trading at 0.5 times its book value.

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