Stock With Momentum: Manulife Holdings Bhd
21 Dec 2017, 10:56 am
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This article first appeared in The Edge Financial Daily on December 21, 2017 - December 27, 2017

Manulife Holdings Bhd (-ve)
SHARES in Manulife Holdings Bhd (fundamental: 0/3, valuation: 2.55/3), involved in life insurance, fund and asset management businesses, triggered our proprietary momentum algorithm for the first time this year.

The stock closed three sen or 0.91% up at RM3.32 yesterday — its highest since August 2014 — with a total of 41,000 shares done, compared with its 200-day average volume of 5,777 shares.

For the third quarter ended Sept 30, 2017 (3QFY17), Manulife announced a 41.1% drop in its net profit at RM7.45 million, from RM12.64 million a year ago, as its life insurance business recorded worsened claims and higher distribution channel expenses, due to business expansion.

Revenue, however, grew 14.9% to RM305.97 million in the quarter, from RM266.27 million previously, largely attributed to a 77.3% increase in operating revenue from its asset management services.

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