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Stock With Momentum: Gabungan AQRS
by Cals Tue 12 Apr 2016, 01:29
Stock With Momentum: Gabungan AQRS
By Asia Analytica / The Edge Financial Daily | April 11, 2016 : 10:02 AM MYTThis article first appeared in The Edge Financial Daily, on April 11, 2016.
Gabungan AQRS Bhd (+ve) [You must be registered and logged in to see this image.]
Gabungan AQRS Bhd (fundamental: 0.15/3; valuation: 0.3/3) was highlighted as a “red flag” Stock With Momentum by our proprietary algorithm last Friday, suggesting that investors should exercise extra caution while trading. This was also the first time it triggered our momentum algorithm.
The stock closed 1.5 sen or 1.74% lower at 84.5 sen that day, after 1.7 million shares were traded, compared to its 200-day average volume of 422,240 shares.
In a bourse filing dated Apr 6, the company said its 52%-owned subsidiary, Prestige Field Development Sdn Bhd, has entered into a sale and purchase agreement to dispose of a piece of 7.977-acre land in Selangor for RM50.38 million.
Gabungan AQRS said the land sale was to raise funds as working capital and/or repayment of bank borrowings of Prestige Field Development, in line with its de-gearing exercise to strengthen its financial footing.
At its current share price, the stock is trading at 1.02 times its book value.
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