Stock With Momentum: Damansara Realty
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Stock With Momentum: Damansara Realty
Stock With Momentum: Damansara Realty
By Asia Analytica / The Edge Financial Daily | November 11, 2015 : 10:18 AM MYTThis article first appeared in The Edge Financial Daily, on November 11, 2015.
[size=16]Damansara Realty Bhd ([You must be registered and logged in to see this image.] Valuation: 0.00, Fundamental: 0.80) (-ve)
Damansara Realty (Fundamental: 0.8/3, Valuation: 0/3) closed 9.5% higher to 98 sen on Monday, despite being queried by Bursa Malaysia for unusual market activity last Friday. On Nov 6, its shares price jumped 49.2% in a day.
In reply to Bursa’s query, the company disclosed that it had participated in a public tender to construct housing development under Projek Perumahan Penjawat Awam 1Malaysia (PPA1M) at Putrajaya.
Damansara Realty is engaged in property services which accounts for 36% of sales in FY2014, followed by carpark management services (59%) and property development (5%).
It fell into the red in FY2014, as compared to FY2013, which recorded higher other income from legal settlement and reversal of impairments. Earnings for 1H2015 fell to RM180,000 from RM1.7 million in 1H2014.
The company also plans to launch its mixed development project — Damansara Heights (Johor Bahru) by end-2015.
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