Alco Holdings 0328

Alco Holdings 0328

Postby winston » Fri Dec 19, 2008 8:33 am

Instant profit for Christmas stock king

Shareholder-rights advocate David Webb yesterday named electronics manufacturer Alco Holdings (0328) as his annual Christmas stock pick, sending the small-cap firm's shares rocketing 23 percent and racking up at least HK$7.83 million in paper profits for Webb.

Shares of Alco, which makes DVD players, flat-panel televisions and audio systems, jumped the most in five years to close at HK$1.49, up 28 HK cents.

Webb first disclosed his interest in the stock on July 17, when his shareholding increased to 5.01 percent, or 27.97 million shares.

Webb also gave an "honorable mention" to two other small-cap stocks: Fujikon Industrial Holdings (0927), which was his Christmas 2005 pick, and optical frames maker Sun Hing Vision Group (0125).

Fujikon surged 11.8 percent yesterday, earning Webb one-day paper gains of HK$3.36 million, while Sun Hing Vision surged 14.4 percent and gave him one-day paper gains of HK$2.37 million.

Webb usually holds onto his Christmas picks long-term, so he is unlikely to take profits yet.

For several of his stock picks, including last year's choice of speaker maker Shinhint Acoustic Link Holdings (2728), Webb increased his shareholding further in the months after his pick was unveiled.

Webb warned people not rush to buy his Christmas pick, saying it is intended for a one-year - not one-day - investment horizon.
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