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Stock With Momentum: Golden Land
by Cals Tue 09 Jun 2015, 08:23
Stock With Momentum: Golden Land
Golden Land Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
SABAH-based palm oil player Golden Land (Fundamental: 0.7/3, Valuation: 2/3) has recently seen a sharp surge in share price and trading volume. Its shares, which are normally thinly traded, have soared 66% to a 5-year high of RM1.91 since end-April.
The heightened investor interest could be due, in part, to a potential corporate exercise. Last Friday, the company requested that trading in its shares be suspended on 8 June (today), pending a material announcement.
For 9MFYJun2015, net profit plunged 45% y-y to RM5.2 million on the back of a 15% decline in revenue, hit by lower crude palm oil (CPO) sales and lower CPO selling prices. In April, it acquired controlling stakes in two plantation companies, which hold permits to develop a total 26,600 ha in Sulawesi in Indonesia for US$5.7 million.
The stock is trading at 0.61 times book value but high trailing 12-month P/E of 42.3 times.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on June 8, 2015.
Golden Land Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
SABAH-based palm oil player Golden Land (Fundamental: 0.7/3, Valuation: 2/3) has recently seen a sharp surge in share price and trading volume. Its shares, which are normally thinly traded, have soared 66% to a 5-year high of RM1.91 since end-April.
The heightened investor interest could be due, in part, to a potential corporate exercise. Last Friday, the company requested that trading in its shares be suspended on 8 June (today), pending a material announcement.
For 9MFYJun2015, net profit plunged 45% y-y to RM5.2 million on the back of a 15% decline in revenue, hit by lower crude palm oil (CPO) sales and lower CPO selling prices. In April, it acquired controlling stakes in two plantation companies, which hold permits to develop a total 26,600 ha in Sulawesi in Indonesia for US$5.7 million.
The stock is trading at 0.61 times book value but high trailing 12-month P/E of 42.3 times.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on June 8, 2015.
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