Hot Stock Tanah Makmur surges 14.3% on institutional buying

by **Cals** Mon 04 Jan 2016, 23:34

Hot Stock

[size=28]Tanah Makmur surges 14.3% on institutional buying

By Gho Chee Yuan / theedgemarkets.com | January 4, 2016 : 4:48 PM MYT

KUALA LUMPUR (Jan 4): Shares in Tanah Makmur Bhd ([You must be registered and logged in to see this image.] Valuation: N/A, Fundamental: N/A) surged as much as 20 sen or 14.3% today on institutional buying.

At 3.48pm, the stock narrowed its gain to trade at RM1.58, still up 18 sen or 12.9% after 1.53 million shares changed hands.

Today, SJ Securities Sdn Bhd senior remisier Goh Kay Chong said there was an influx of institutional buyers for the counter, accounting for 90% of the total trading volume.

"The money has flown in since Dec 31," he added.

Tanah Makmur has been trading at an uptrend since Dec 30, 2015. Over the past week, it has gained 20 sen or 14.5%.

Meanwhile, Tanah Makmur's managing director Datuk Seri Tengku Zubir Tengku Datuk Ubaidillah had disposed of 661,000 shares at an average price of RM1.38 apiece on Dec 31, its filings with Bursa Malaysia today showed.

According to the filings, Zubir has a direct stake of 26.76 million shares or 6.72% in the company following the disposal.

He also holds 27.06 million shares or 6.79% stake in Tanah Makmur via his 50%-owned Tastu Bina Sdn Bhd.

(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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