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Thursday, June 25, 2015

Dolphin International reaches record high of 92 sen

KUALA LUMPUR (June 25): Recently listed palm oil mill manufacturer Dolphin International Bhd climbed as much as 4.5% during the morning trading session, reaching a high of 92 sen, its highest since its listing earlier this month.

At 12.30pm, the counter was traded at 89.5 sen, up 1.5 sen or 1.7% with some 15.0 million shares traded. Its market capitalisation was RM195.36 million.

Earlier, the counter gained as much as 4 sen or 4.5% to reach a high of 92 sen.

Over the past week, Dolphin International’s share price was seen to be gradually rising, gaining 17 sen or 23% from its closing of 72.5 sen on June 18. The counter also saw its biggest daily gain of 11 sen on June 22.

Dolphin International (fundamental: N/A; valuation: N/A) made an impressive debut on the Main Market of Bursa Malaysia on June 9, with the stock opening at a nine sen premium. The counter hit an intraday high of 79 sen on its maiden trading day, before closing lower at 71.5 sen.

For the first quarter ended March 31, 2015, the group posted a net profit of RM3.11 million on revenue of RM10.62 million.

For the year ended Dec 31, 2014 (FY14), Dolphin International posted net profit of RM12.12 million, a 6% increase from the year before, while revenue jumped 19% to RM104.59 million from RM88.25 million.

The group said it expects to maintain, if not improve, its performance for FY15, backed by its order book of RM168.67 million, which will keep it busy until end-2016.

Kenanga Investment Bank Bhd has a “trading buy” rating on the stock, with a fair value of 78 sen.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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