Lee Swee Kiat Group Bhd (+ve)
SHARES in Lee Swee Kiat Group Bhd (fundamental: 2.1/3, valuation: 1.7/3) triggered our proprietary momentum algorithm yesterday for the fifth time since January this year.
The stock closed 65 sen or 9.92% higher at 72 sen, giving it a market capitalisation of RM113.37 million. A total of 5.08 million shares were traded, exceeding its 200-day average volume of 599,620 shares.
On April 3, the group announced that it adopted a dividend policy of not less than 30% of its consolidated net profit from the financial year ended Dec 31, 2017 (FY17) and the payout will be in the form of cash or share dividend in equivalent market value.
The group also posted a 41.73% growth in net profit to RM3.02 million in 4QFY17.
At the current share price, the group is trading at 2.57 times its book value.