Stock With Momentum: Kretam Holdings
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Stock With Momentum: Kretam Holdings
Stock With Momentum: Kretam Holdings
By Asia Analytica / The Edge Financial Daily | June 8, 2016 : 11:01 AM MYTThis article first appeared in The Edge Financial Daily, on June 8, 2016.
Kretam Holdings Bhd (-ve)
SHARES in Kretam Holdings Bhd (fundamental: 1.15/3, valuation: 0.3/3) triggered our momentum algorithm yesterday as the stock price rose 2.5 sen or 4.35% to close at 60 sen, after 3.16 million shares were traded.
The volume traded was near three times its 200-day average volume of 1.29 million shares. Year to date, the counter has risen about 30.43%.
In the first quarter ended March 31, 2016, the Sandakan-based plantation company saw its net loss widen to RM4.09 million from RM2.86 million a year ago. This was due to a significant decline in fresh fruit bunch output as a result of the El Niño weather phenomenon. Revenue for the period also declined, falling 46.5% to RM41.58 million from RM77.68 million.
Kretam is principally involved in oil palm cultivation, milling, refining and the sale of oil palm products.
At its current price, the counter is trading at 1.22 times its book value. The company has not paid any dividends over the last three years.
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