Amalgamated Industrial Steel Bhd (-ve)SHARES in Amalgamated Industrial Steel Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the fifth time this year. The counter closed 2.5 sen or 4.2% higher at 62 sen yesterday, after some 1.81 million shares were traded, far exceeding its average volume of only 85,202 shares in the last 200 days. Amalgamated Industrial Steel’s share price has been steadily increasing in the past months to almost double that seen in end-December last year, when it was trading at 32 sen apiece. The improved earnings were largely due to lower cost of imported raw material with lower finance cost. At the current share price, Amalgamated Industrial Steel is trading at 0.68 times its book value.

Source: The Edge Markets September 20, 2016 02:26 UTC