Stock With Momentum: Muar Ban Lee Group
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Stock With Momentum: Muar Ban Lee Group
Stock With Momentum: Muar Ban Lee Group
By Asia Analytica / The Edge Financial Daily | April 19, 2016 : 10:30 AM MYTThis article first appeared in The Edge Financial Daily, on April 19, 2016.
Muar Ban Lee Group Bhd (-ve)
Shares in Muar Ban Lee Group Bhd (fundamental:1.70/3, valuation:2.60/3) were very active yesterday with 1.61 million shares changing hands, compared to its 200-day average volume of 51,194. However, its share price remained unchanged at 79 sen.
The oil seed crushing machinery maker has been active in share buy-back since the start of this year.
Muar Ban Lee shares have not gained much since its debut at an offer price of 65 sen in October 2009. Its share price has been trading in a 52-week range of 66 sen to 90 sen per share.
This is despite the group seeing its net profit surge 94.82% to RM2.03 million for the fourth financial quarter ended Dec 31, 2015, from RM1.04 million a year ago. This brought its full-year net profit to RM5.91 million, a 45.6% jump from RM4.07 million in FY14.
The stock trades at a trailing 12-month price-earnings ratio of 12.49 times and 14.13% below book value of 92 sen.
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