This article first appeared in The Edge Financial Daily, on February 23, 2016.

Ni Hsin Resources Bhd (-ve)

SHARES of Ni Hsin (fundamental: 2.35/3, valuation: 1.1/3) gained 4.23% to close at 37 sen yesterday, with 13.67 million shares done. Its warrants rose 6.9% in active trade to close at 15.5 sen.

Based in Seri Kembangan, the premium cookware manufacturer derived 89% of its 2014 sales from export markets such as Japan, Europe, Taiwan and South Korea. Interestingly, its share price plunged 27% to a low of 27 sen in less than a month after it announced its 3QFY15 results on Nov 18, 2015.

For 3QFY15, it posted a net profit of RM1.54 million, reversing a net loss of RM159,000 in 3QFY14, mainly due to foreign exchange gain.

Revenue rose 17.3% to RM12.02 million from RM10.25 million, on higher sales of cookware and clad metal.

The stock currently trades at a trailing P/E of 29.3 times and 1.3 times book value. Dividend was 0.5 sen per share for the past three years, translating into a yield of 1.4%.