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Stock With Momentum: Triplc
by Cals Fri 30 Oct 2015, 03:06
Stock With Momentum: Triplc
By Asia Analytica / The Edge Financial Daily | October 29, 2015 : 10:50 AM MYTThis article first appeared in The Edge Financial Daily, on October 29, 2015.
[size=16]Triplc Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 0.80) (-ve)
TRIPLC (Fundamental: 0.8/3, Valuation: 1.5/3) rose as much as 9.4% in early trading yesterday, following announcement of its 1QFYMay2016 results. However, the stock closed unchanged at RM1.59.
For 1QFY2016, revenue grew 40.7% y-y to RM8.2 million, boosted by RM4.8 million in construction revenue from the additional variation order revenue recognition from its UiTM Puncak Alam (UiTM) campus project. Net profit increased by a lower 2.0% to RM3.6 million, due to higher administrative expenses and finance cost.
Prior to FY2014, the construction segment accounted for the bulk of revenue. Subsequently, TRIplc derives its revenue mainly from the 23-year concession agreement, starting April 2010, involving the maintenance works for the facilities and infrastructure of UiTM Zone 1 Phase 2.
Last month, the company received a confirmation of acceptance from Worldwide Holdings Berhad for the proposed disposal of its 338.7-acre mixed development land in Serendah, Ulu Selangor for RM140.1 million. The land was carried at RM37.2 million in FY2015.
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