SHARES of Len Cheong Holding Bhd (fundamental: 0.75/3; valuation: 0.9/3) triggered our momentum algorithm for the eighth time this month. Its shares inched up half sen or 1.47% to close at 34.5 sen yesterday after 8.54 million shares changed hands.
In a filing to Bursa Malaysia dated March 28, the wood furniture maker announced that Swiss Hotel Sdn Bhd has ceased to be a substantial shareholder of the company after disposing of two million shares through the open market at 16.5 sen each.
The company turned around and posted a net profit of RM1.39 million in its fourth quarter ended Dec 31, 2015 (4QFY15), from a net loss of RM1.73 million a year ago, as revenue climbed 29.5% to RM8.78 million from RM6.78 million.
For the full year, Len Cheong slipped into a net loss of RM4.98 million from a net profit of RM13.07 million in FY14.
The stock currently trades at 0.8 times its book value.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Song Lee
116 posts
Posted by Song Lee > 2016-03-18 00:34 | Report Abuse
Maybe more than that