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Thursday 02nd January 2003

NWP and WWE top performers on KLSE

INTEGRATED timber processor NWP Holdings Bhd emerged as the top performing stock on the main board of the Kuala Lumpur Stock Exchange (KLSE) for 2002, while WWE Holdings Bhd led the rankings on the second board.

NWP Holdings started the year at RM1.18 and was last traded at RM4.08, a jump of 246 per cent. The stock was heavily traded in mid-January and the whole of February. It reached its highest level at RM7.40 in February.

Meanwhile, engineering-based WWE Holdings increased over 63 per cent in value when it ended 2002 at RM1.78, from RM1.09 at the start of the year. The highest price recorded for the counter was RM2.19 in April.

Financial stock Killinghall Bhd was the second best performer on KLSE main board, followed by blue-chips Hume Industries Bhd and Kulim (M) Bhd.

Hume and Kulim also topped KLSE’s 100-strong Composite Index (KLCI). However, larger and more popular stocks such as Tenaga Nasional Bhd, Malayan Banking Bhd and Telekom Malaysia Bhd were not in the top 10 list of KLCI winners.

For the year just ended, the KLCI had dropped 5.3 per cent in value.

Meanwhile, Kuantan Flour Mills Bhd (KFM) and Teck Guan Perdana Bhd were second and third repectively on the second board.

KFM was in the news, especially in the second half of 2002, notably the announcement on the exit of Datuk Jaafar Abdul Hamid as KFM executive chairman after only four months in office, and its plans to sell its milling business to venture into the motor vehicle industry.

KFM’s share price rose over 48 per cent to RM2.18 in the one year. After its restructuring exercise, KFM will move to the main board of the KLSE.

At the bottom half of the list, Tongkah Holdings Bhd and Lipo Corp Bhd were the top losers on the main board and second board respectively for the year just ended.

Tongkah, listed under the Practice Note 4 (PN4) category for financially-distressed companies, lost almost 91 per cent of its stock value in the span of the year. The stock was last traded at a mere 4 sen, from 43 sen at the beginning of the year.

The next four losers on the main board — Pica (M) Corp Bhd, Sriwani Holdings Bhd, CSM Corp Bhd and Construction and Supplies House Bhd — were also PN4 companies.

A popular speculative stock among investors, Lipo’s share price plunged 81 per cent in 2002, from RM7.90 to RM1.48.

The remaining top losers on the second board include Aktif Lifestyle Corp Bhd, Denko Industrial Corp Bhd, Merces Holdings Bhd and YCS Corp Bhd.

©New Straits Times (M) Berhad