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Stock With Momentum: TRIplc
by Cals Fri 01 Jul 2016, 01:22
Stock With Momentum: TRIplc
By Asia Analytica / The Edge Financial Daily | June 30, 2016 : 10:33 AM MYT[You must be registered and logged in to see this image.]
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This article first appeared in The Edge Financial Daily, on June 30, 2016.
TRIplc Bhd (+ve)
SHARES in TRIplc Bhd (fundamental: 0.8/3, valuation: 1.5/3) triggered our momentum algorithm yesterday for the fourth time this year.
The counter closed up six sen or 3% higher at RM2.06, after 433,100 shares were traded. In comparison, it saw only an average of 85,381 shares done in the last 200 days.
The group’s core activities are in construction, property development and project management services.
In its third quarter ended Feb 29, 2016 (3QFY16), TRIplc reported a 75.7% increase in net profit to RM2.1 million from RM1.19 million a year ago, even though revenue slipped 0.58% to RM3.45 million from RM3.47 million in 3QFY15.
The group entered into a heads of agreement with Puncak Niaga Holdings Bhd on April 18 to facilitate discussions and negotiations for a potential acquisition of the businesses of TRIplc by Puncak Niaga. The proposed transaction is currently under a due diligence.
At the current share price, TRIplc is trading at 0.9 times its book value.
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