SunVic Chemical (A7S.SG) +2.4% at $0.64, recouping part of 7.4% fall since release of 3Q10 results Nov. 10. While net profit at RMB193.3 million ($37.7 million) vs RMB6.1 million loss year earlier, RMB103.5 million profit in 2Q10 due to increased sales, investors have since opted to sell on strength given 82.4% rally after 2Q10 results came out Aug 12.

Stock’s uptrend remains intact, with intraday pullback in recent months offset by dip-buying. “We believe fundamentals support further ascent of its share price,” says CIMB, which has no rating.

Adds, 1Q, 4Q traditionally peak periods for China-based chemicals maker, hence current quarter could improve on 3Q10 performance; “SunVic enjoys huge operating leverage. The company is currently enjoying full utilisation.” Orderbook quotes suggest price unlikely to challenge 52-week high of $0.70.