JOBST (0058) - Stocks With Momentum: Jobstreet Corporation
Jobstreet Corporation Bhd
Jobstreet (Fundamental: 2.3/3, Valuation: 2.4/3) was picked by our momentum algorithm for the second consecutive day as price and volume rose. It closed 6.6% higher with 44.8 million shares changed hands.
Given that the stock continues to rise even after the large dividend payment — due to disposal of its core business — suggests investors are speculating on a new future for the company, particularly given its entrepreneurial management.
Interestingly, former central banker Tan Sri Dato’ Dr Lin See Yan, a director and shareholder of Jobstreet, bought 100,000 shares at 39.5 sen last Monday.
The company’s net assets (mostly cash) stand at 36 sen per share, and are understated as it has unrealised gain of RM29.75 million on marketable securities (mainly shares of 104 Corp Taiwan) at end-Sept 2014 and an 8-storey office building in Jalan Sultan Ismail, Kuala Lumpur acquired in 2005 and valued at only RM13 million.
This article first appeared in The Edge Financial Daily, on February 4, 2015.
http://www.theedgemarkets.com/my/article/stocks-momentum-jobstreet-corporation-1
Jobstreet Corporation Bhd
Jobstreet (Fundamental: 2.3/3, Valuation: 2.4/3) was picked by our momentum algorithm for the second consecutive day as price and volume rose. It closed 6.6% higher with 44.8 million shares changed hands.
Given that the stock continues to rise even after the large dividend payment — due to disposal of its core business — suggests investors are speculating on a new future for the company, particularly given its entrepreneurial management.
Interestingly, former central banker Tan Sri Dato’ Dr Lin See Yan, a director and shareholder of Jobstreet, bought 100,000 shares at 39.5 sen last Monday.
The company’s net assets (mostly cash) stand at 36 sen per share, and are understated as it has unrealised gain of RM29.75 million on marketable securities (mainly shares of 104 Corp Taiwan) at end-Sept 2014 and an 8-storey office building in Jalan Sultan Ismail, Kuala Lumpur acquired in 2005 and valued at only RM13 million.
This article first appeared in The Edge Financial Daily, on February 4, 2015.
http://www.theedgemarkets.com/my/article/stocks-momentum-jobstreet-corporation-1
