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Stocks With Momentum: KEN
by Cals Fri 17 Apr 2015, 00:01
Stocks With Momentum: KEN
By theedgemarkets.com / theedgemarkets.com | April 16, 2015 : 12:09 PM MYT
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KEN Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
Shares for property developer, KEN (Fundamental: 2.3/3, Valuation: 2.4/3) gained 10.2% this week, closing at a high of RM1.19 yesterday. Its shares are attractively valued and the company has strong fundamentals.
The company announced earlier in the week that it expects to commence a mixed development project in Kelantan by end-2015. The project has a GDV of RM80 million, comprising of a hotel and serviced suites.
KEN’s net profit rose 52.9% to RM32.0 million in 2014, on the back of 63.1% increase in revenue to RM91.1 million. This was attributed to the completion of Ken Rimba Jimbaran Residences, Shah Alam.
An ongoing project, Ken Rimba Condominium 1, which has a GDV of RM340 million, achieved an overall take-up rate of 75% as at end-March.
Meanwhile, KEN expects to start generating some RM10 million in annual rental income upon the completion of Menara Ken in Taman Tun Dr Ismail — which will also house its corporate office — by end-2015.
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This article first appeared in The Edge Financial Daily, on April 16, 2015.[/size]
By theedgemarkets.com / theedgemarkets.com | April 16, 2015 : 12:09 PM MYT
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[size]
KEN Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
Shares for property developer, KEN (Fundamental: 2.3/3, Valuation: 2.4/3) gained 10.2% this week, closing at a high of RM1.19 yesterday. Its shares are attractively valued and the company has strong fundamentals.
The company announced earlier in the week that it expects to commence a mixed development project in Kelantan by end-2015. The project has a GDV of RM80 million, comprising of a hotel and serviced suites.
KEN’s net profit rose 52.9% to RM32.0 million in 2014, on the back of 63.1% increase in revenue to RM91.1 million. This was attributed to the completion of Ken Rimba Jimbaran Residences, Shah Alam.
An ongoing project, Ken Rimba Condominium 1, which has a GDV of RM340 million, achieved an overall take-up rate of 75% as at end-March.
Meanwhile, KEN expects to start generating some RM10 million in annual rental income upon the completion of Menara Ken in Taman Tun Dr Ismail — which will also house its corporate office — by end-2015.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 16, 2015.[/size]
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