Profile

·      Listed on 28 September 2005

·      A component of the FBM ACE Index under the Industrial Specialties industry

·      Market Capitalisation of RM 54 million

·      Financial Year End 31 May 2016

·      Next quarterly announcement (4^th Quarter) due on July 2016

Background and Core Business

·      Designers and manufacturers of ceramic formers, used mainly in the rubber glove manufacturing industry

·      The use of ceramic formers has now been expanded to surgical, examination gloves, industrial and household product manufacturing

·      ES Ceramics’ growth has been in tandem with the rubber gloves industry

Financial Brief and Ratios (Historical)

·      Revenue is growing y-o-y with substantial forecasted growth for 2016 and this information has probably been priced-in based on the iVSAChart that we will review below

·      PER is average for a growth company like ES Ceramics

·      No dividends have been declared in the past

·      The company derives its financing mainly from equities

iVolume Spread Analysis (iVSA) & comments based on iVSAChart software – ES Ceramics

·      This is the 1-year weekly chart for ES Ceramics dating back to June 2015

·      Signs of Strength (green arrows) were detected by iVSAChart at the beginning of Oct 2015 culminating in a breakout from the RM0.36 resistance level. Since then, this stock has been trending upward, with more Signs of Strength appearing during retracements

·      Attempts to mark up prices in Apr and May 2016 met with heavy supply around RM0.58 level

·      Currently, ES Ceramics is moving sideways with low volume, suggesting further accumulation

·      Should more Signs of Strength be detected at this juncture, it would herald higher prices to come

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This article only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock.