Hot Stock Bintai Kinden gains 13% on Cambodian contract

by **Cals** Mon 23 Nov 2015, 22:12

Hot Stock

[size=28]Bintai Kinden gains 13% on Cambodian contract

By Ahmad Naqib Idris / theedgemarkets.com | November 23, 2015 : 11:54 AM MYT

KUALA LUMPUR (Nov 23): Bintai Kinden Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 0.50) rose as much as four sen, following announcement of a US$15.15 million (RM64.89 million) mechanical, electrical and plumbing contract involving the Rosewood Hotel in Phnom Penh.

Bintai Kinden's shares rose to their highest so far today at 34 sen. At 11:22am, the stock pared gains at 33.5 sen, with some seven million shares exchanged.

Year-to-date, Bintai Kinden shares had appreciated about 53%, outperforming the FBM KLCI's estimated 5% contraction, according to Bloomberg data.

Last Friday (Nov 23), Bintai Kinden said it received the project's letter of acceptance from Vattanac Properties Ltd. Bintai Kinden said it was undertaking the project via 69.82%-owned subsidiary Bintai Kindenko Pte Ltd.

Bintai Kinden expects to complete the project by Aug 31, 2016.

Today, RHB Research Institute Sdn Bhd's technical analyst Lim Sae Wai said in a note that the research firm had a target price (TP) of 37 sen for Bintai Kinden shares.

Lim indicated the TP came with a cut-loss and buy-back price at 28 sen.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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