KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
RGB International Bhd (-ve)
Shares in RGB International Bhd (fundamental: 2.5/3, valuation: 1.8/3) saw some 54.6 million shares done last Friday, compared to its 200-day average volume of 6.91 million shares. It closed up 1 sen or 5% at 21 sen.
Since early October, RGB’s share price has been trending upward, gaining 4 sen or 23% since its close at 17 sen on Oct 4.
In its second quarter ended June 30, 2016, RGB reported a net profit of RM6.98 million, up 6% from RM6.56 million in the previous year’s corresponding quarter. Revenue gained 16% to RM58 million, from RM49.88 million.
Cumulatively, net profit for the first half of its financial year was 19% higher at RM12.91 million, compared with RM10.89 million in the previous year, while revenue climbed 29% year-on-year to RM114.09 million.
RGB’s price-to-net-asset-value stood at 1.51 times. It paid 1 sen per share in dividends for its financial year ended Dec 31, 2015.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-rgb-international-0?type=Stock%20with%20Momentum
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