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Gamuda proposes share buyback
by Cals Fri 30 Oct 2015, 03:07
Gamuda proposes share buyback
By Tan Siew Mung / theedgemarkets.com | October 29, 2015 : 6:24 PM MYTKUALA LUMPUR (Oct 29): [size=16]Gamuda Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.30) intends to seek shareholders’ approval to buy back its own shares.
In a filing with Bursa Malaysia today, builder Gamuda said it plans to seek shareholders' approval at its forthcoming annual general meeting.
"The statement to shareholders containing details of the above proposal will be despatched to shareholders of the company, together with the annual report 2015 in due course," Gamuda said.
Today, Gamuda's shares rose as much as nine sen or 2% to RM4.64, before paring gains.
At 5pm, the counter closed at RM4.56, for a market capitalisation of RM10.97 billion.
The stock saw 4.72 million shares traded. Year to date, Gamuda's shares has dropped 8.98%, underperforming the FBM KLCI's 5.35% decline.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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