Bursa Alert
Global Market
NewsStock With Momentum: Ivory Properties Group
Page 1 of 1
Stock With Momentum: Ivory Properties Group
by Cals Thu 21 May 2015, 22:37
Stock With Momentum: Ivory Properties Group
IVORY PROPERTIES GK BHD ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
IVORY (Fundamental: 0.75/3, Valuation: 1.1/3), which is principally engaged in property development and management, rose 10.6% to close at 47 sen yesterday. Volume traded surged to a one-year high of 8.0 million shares.
The Penang-based property developer appears to be cashing out from its home base and venturing into Iskandar Malaysia, Johor.
Last January, Ivory entered into a shares sale agreement to dispose of its entire 49% stake in Aspen Vison Land Sdn Bhd for RM55 million and a 21.78-ha land in Penang for RM150 million. The disposals are expected to result in a net gain of RM73 million.
For 9MFYMar2015, revenue dropped 29.2% to RM224.1 million while net profit fell 2.0% to RM14.9 million. Net gearing ratio was relatively high at 69.6%.
The stock is trading at a trailing 12-month P/E of 12.7 times and 0.48 times book. No dividend was declared for the past five years.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on May 21, 2015.
IVORY PROPERTIES GK BHD ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
IVORY (Fundamental: 0.75/3, Valuation: 1.1/3), which is principally engaged in property development and management, rose 10.6% to close at 47 sen yesterday. Volume traded surged to a one-year high of 8.0 million shares.
The Penang-based property developer appears to be cashing out from its home base and venturing into Iskandar Malaysia, Johor.
Last January, Ivory entered into a shares sale agreement to dispose of its entire 49% stake in Aspen Vison Land Sdn Bhd for RM55 million and a 21.78-ha land in Penang for RM150 million. The disposals are expected to result in a net gain of RM73 million.
For 9MFYMar2015, revenue dropped 29.2% to RM224.1 million while net profit fell 2.0% to RM14.9 million. Net gearing ratio was relatively high at 69.6%.
The stock is trading at a trailing 12-month P/E of 12.7 times and 0.48 times book. No dividend was declared for the past five years.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on May 21, 2015.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Stock With Momentum: Ivory Properties Group
» Stocks With Momentum Prestariang, Pasdec, Ivory Properties, Malaysia Smelting, Ekovest, PMB Tech, Hwa Tai Industries, KUB
» Stock With Momentum: Amcorp Properties
» Oct 21-Companies in the news IOI Properties, CIMB Group, Hong Leong Bank, Bina Puri, Top Glove and Hunza Properties
» Stock With Momentum: CME Group
» Stocks With Momentum Prestariang, Pasdec, Ivory Properties, Malaysia Smelting, Ekovest, PMB Tech, Hwa Tai Industries, KUB
» Stock With Momentum: Amcorp Properties
» Oct 21-Companies in the news IOI Properties, CIMB Group, Hong Leong Bank, Bina Puri, Top Glove and Hunza Properties
» Stock With Momentum: CME Group
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|