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Stock With Momentum: Bina Barulaman
by Cals Mon 04 Apr 2016, 02:05
Stock With Momentum: Bina Barulaman
By Asia Analytica / The Edge Financial Daily | April 1, 2016 : 10:57 AM MYTThis article first appeared in The Edge Financial Daily, on April 1, 2016.
Bina Barulaman Bhd (+ve)
Shares of Bina Barulaman Bhd (BDB) (fundamental: 0.6/3; valuation: 2/3), which closed 1 sen or 1.37% lower at 74 sen with 735,200 shares done yesterday — against its 200-day average volume of 142,699.5 — has triggered our momentum algorithm for the first time.
The stock currently trades at 0.4 times book value. The group recommended a first and final single-tier dividend of 4 sen per share, totalling RM12.15 million for FY15, which was approved at its AGM yesterday.
In its financial year ended Dec 31, 2015 (FY15), the property developer saw a slight rise in its net profit to RM24.20 million from RM24.16 million a year earlier, while revenue fell 26% to RM243.30 million from RM328.88 million.
Earlier this month, BDB proposed the acquisition of a five-acre industrial freehold land in Kulim, Kedah, via its wholly-owned unit BDB Infra Sdn Bhd (BISB) for RM5.08 million to set up a new premix plant.
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