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NewsHot Stock Pintaras rises 6% to new all-time high on dividend
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Hot Stock Pintaras rises 6% to new all-time high on dividend
by Cals Thu 02 Oct 2014, 02:27
| Hot Stock Pintaras rises 6% to new all-time high on dividend |
| Business & Markets 2014 |
| Written by Kamarul Anwar of theedgemalaysia.com |
| Wednesday, 01 October 2014 16:12 KUALA LUMPUR (Oct 1): Construction firm Pintaras Jaya Bhd climbed as much as 28 sen or 6% to a new all-time high of RM4.88 today. Pintaras had risen as investors chased the shares to capitalise on its proposed dividend. The stock became the third-biggest gainer across Bursa Malaysia, albeit on thin trade of 206,500 shares at 3.51pm. For comparison, the FBM KLCI fell 1.96 points or 0.1%. Piling specialist Pintaras has proposed to pay a dividend of nine sen a share for the fourth quarter ended June 30, 2014, bringing the full-year figure to 15 sen. The stock will trade ex-dividend this Dec 29. RHB Research Institute Sdn Bhd has a fair value of RM4.92 for Pintaras shares. In RHB's latest note on the construction sector, RHB analyst Joshua Ng named Pintaras as the best proxy for piling jobs. Ng, in a previous note on Pintaras, said the company had a few key advantages over its rivals. He said Pintaras had a full range of piling machines, tools and accessories; possesses in-depth knowledge of ground conditions; and has the ability to secure cash discounts for key inputs, as Pintaras has a strong balance sheet. |
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