Friday 29 Mar 2024
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TOMYPAK HOLDINGS BHD (+ve)
TOMYPAK (Fundamental: 1.8/3, Valuation: 1.4/3) extended its fresh 3-year high yesterday, climbing to an intra-day high of RM 1.75 before retracing to close at RM1.71. Trading volume rose to a one-year high of 1.4 million shares.

Last October, Tomypak saw the entry of a new shareholder Yong Kwet On, with 25.48% stake. The company then appointed its Executive Director Lim Hun Swee, as its Managing Director on January 1, 2015, replacing the outgoing founder Chow Yuen Liong. Lim has increased his shareholding in Tomypak to 14.90% as at end-April 2015, from 13.44% prior to his appointment. 

Tomypak manufactures flexible food packaging materials for powdered beverages, seasoning, sauces, snacks, instant noodles and pet food. Its main clients include Nestle, Maggi, Kraft Foods and Apollo Food Industries. 

For 2014, revenue fell 6.9% to RM209.0 million while net profit dropped by 41.9% to RM8.2 million, mainly due to higher energy and labour costs.

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This article first appeared in The Edge Financial Daily, on May 14, 2015.

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