Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on May 31, 2016.

 

Raya International Bhd (+ve)

Shares in Raya International Bhd (fundamental:0.60/3, valuation:1/3) climbed 0.5 sen or 1.41% to close at 36 sen yesterday, with a volume of 17.66 million shares traded, compared with its 200-day average volume of 791,693 shares.

The group announced last week that it slipped into a net loss of RM1,000 in the first quarter ended March 31, 2016, from a net profit RM28,000 in the previous year. The group’s revenue fell 21.74% to RM9.85 million, from RM12.59 million.

The weaker performance was mainly due to lower sales achieved. Lower other operating income also contributed to the drop in profit before tax.

It is worth noting that the group’s managing director Datuk Tan Seng Hu has increased his shareholding in the company to 4.11% recently, from 3.49% as at April 14.

Raya International mainly manufactures and distributes air and water filters. It also designs and installs clean room facilities.

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