Facb's principal activities are manufacturing and marketing of mattresses and related bedding products; manufacturing and marketing of stainless steel pipes and fittings; and lastly, power plants operation in China.
Facb announced its quarterly result today. For its latest quarter ending 31st December 2016, its earning per share is 1.16 sens, which is lower then its previous quarter of 1.66 sens. Net assets per share is Rm 2.47.
Facb's balance sheet is impressive.
It has Rm 155 millions of cash.
It has zero borrowing. With only 85 million shares, its cash per share is Rm155/85 = Rm 1.82 and yet its share price has been hovering around Rm 1.05 in the last 20 months.
It added 4 sens today to reach Rm 1.18, a level last seen in May 2015. If its share price can continue to move higher from here, most likely it is forming the wave (iii) of its major wave 5.
But if its price starts to drop lower again in the coming days, that means it has not completed its major wave 4 and will continue to move sideways with its abc-X-abc.
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