This article first appeared in The Edge Financial Daily on March 12, 2020

Rubberex Corp (M) Bhd (+ve)

TRADING of shares in Rubberex Corp (M) Bhd (fundamental: 1.8/3, valuation: 0.6/3) triggered our momentum algorithm yesterday for the seventh time this year.

The counter closed up two sen or 2.45% at its near 41-month high of 83.5 sen, with 5.85 million shares done — exceeding its 200-day average volume of 1.04 million shares.

Rubberex manufactures household and general purpose gloves, industrial gloves and nitrile disposable gloves for exporting. It has a production facility located in Bercham, Ipoh.

The company’s net profit for the fourth quarter ended Dec 31, 2019 (4QFY19) rose 5.4% to RM3.88 million from RM3.69 million a year ago, on favourable glove selling prices and higher profit margins. Revenue for the quarter jumped 38.3% to RM54.64 million from RM39.52 million for 4QFY18.

For full FY19, its net profit climbed 30.7% to RM11.35 mill

Rubberex Corp (M) Bhd (+ve)

TRADING of shares in Rubberex Corp (M) Bhd (fundamental: 1.8/3, valuation: 0.6/3) triggered our momentum algorithm yesterday for the seventh time this year.

The counter closed up two sen or 2.45% at its near 41-month high of 83.5 sen, with 5.85 million shares done — exceeding its 200-day average volume of 1.04 million shares.

Rubberex manufactures household and general purpose gloves, industrial gloves and nitrile disposable gloves for exporting. It has a production facility located in Bercham, Ipoh.

The company’s net profit for the fourth quarter ended Dec 31, 2019 (4QFY19) rose 5.4% to RM3.88 million from RM3.69 million a year ago, on favourable glove selling prices and higher profit margins. Revenue for the quarter jumped 38.3% to RM54.64 million from RM39.52 million for 4QFY18.

For full FY19, its net profit climbed 30.7% to RM11.35 million from RM8.69 million for the previous year. Revenue grew by 8.6% year-on-year to RM222.97 million versus RM205.24 million.

ion from RM8.69 million for the previous year. Revenue grew by 8.6% year-on-year to RM222.97 million versus RM205.24 million.