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Stocks With Momentum: Ablegroup
by Cals Tue 28 Apr 2015, 02:04
Stocks With Momentum: Ablegroup
Ablegroup Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
ABLEGROUP (Fundamental: 0.8/3, Valuation: 0.3/3) first triggered our momentum algorithm on March 13. Since then, its share price has jumped 37.9% to close at 20 sen last Friday.
AbleGroup, formerly known as Gefung, is involved in the processing, trading and contract workmanship of marble and granite blocks. Its operation in China ran into financial trouble during the 2009 financial crisis.
Dato’ Allan Lim Kim Huat, former Deputy Chairman of Sunrise Bhd (now UEM Sunrise), took over at the helm in September 2009 after he acquired a 25.19% stake. He proceeded to restructure the company, including disposing of the loss-making China subsidiary and using the proceeds to diversify into property development. The company acquired a 3-acre residential land in Mont Kiara, which has a book value of RM28.17 million or RM215.53 psf.
AbleGroup returned to the black in 2014 with a net profit of RM245,000 on RM18.7 million sales. Orderbook for the marble/granite business stood at RM37 milllion at end-2014.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 27, 2015.
Ablegroup Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
ABLEGROUP (Fundamental: 0.8/3, Valuation: 0.3/3) first triggered our momentum algorithm on March 13. Since then, its share price has jumped 37.9% to close at 20 sen last Friday.
AbleGroup, formerly known as Gefung, is involved in the processing, trading and contract workmanship of marble and granite blocks. Its operation in China ran into financial trouble during the 2009 financial crisis.
Dato’ Allan Lim Kim Huat, former Deputy Chairman of Sunrise Bhd (now UEM Sunrise), took over at the helm in September 2009 after he acquired a 25.19% stake. He proceeded to restructure the company, including disposing of the loss-making China subsidiary and using the proceeds to diversify into property development. The company acquired a 3-acre residential land in Mont Kiara, which has a book value of RM28.17 million or RM215.53 psf.
AbleGroup returned to the black in 2014 with a net profit of RM245,000 on RM18.7 million sales. Orderbook for the marble/granite business stood at RM37 milllion at end-2014.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 27, 2015.
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