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NewsHot Stock Brem soars to 15-yr high after "get rich" report
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Hot Stock Brem soars to 15-yr high after "get rich" report
by Cals Mon 30 Dec 2013, 16:29
| Hot Stock Brem soars to 15-yr high after "get rich" report |
| Business & Markets 2013 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Monday, 30 December 2013 15:51 |
KUALA LUMPUR (Dec 30): Brem Holding Bhd soared 17% to a 15-year high of RM1.77 after a bullish report by Nanyang Siang Pau regarding Brem’s net asset value.
At 3.35pm, Brem Holding’s shares were trading at RM1.74, up 23 sen or 15%, with some 6.4 million shares done.
Earlier, the stock rose as much as 26 sen or 17% and was one of the top gainers on the exchange.
According to a report by Nanyang Siang Pau today, if the group’s revaluation of assets were to be taken into account, Brem’s net asset per share would be at RM8.32.
“The group’s net asset per share is worth RM8.32 but the stock price is at RM1.49, a discount of 82% of its asset value,” said the analytical report in Nanyang.
It argued that since the land owned by the group accounts for 95% of its assets, not only is there no possibility of devaluation, but it also means that there is a potential for its asset value to appreciate.
It added that the company has a high probability of issuing bonus shares, as it has reserves of RM311 million.
In addition, it said the company has “a strong management, good profit, steady financial management and attractive dividends.”
The report recommends investors to “boldly buy the stock to get rich.”
The group had declared and paid an interim dividend of 3% on 16 December 2013.
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