TANCO (2429) - Stocks With Momentum: Tanco
TANCO 登高控股 2429 TANCO HOLDINGS BHD
March 25, 2015 : 11:07 AM MYT
Tanco Holdings Bhd (-ve)
TANCO (Fundamental: 0.55/3; Valuation: 1.20/3) rose 1 sen or 6.7% to 16 sen yesterday with 13.1 million shares traded. This compared with the average 1.27 million shares traded daily in the previous 200 trading days.
The company is involved in property development and resort management with projects in KL, Kuantan and Port Dickson.
Tanco slipped into the red with net loss of RM83.2 million in FYJun2013 and has remained loss-making since. Net loss widened to RM6.6 million in 1HFY15 with revenue of just RM1.4 million.
Tanco has terminated its timeshare club and shifted focus to developing a water theme park (Splash Park), integrated resort (Palm Springs Resort City) and serviced suites (Splash Park Suites) in Port Dickson.
Net gearing ratio stood at 25.3% with negative interest cover. The stock is currently trading 68.5% below book value of 50.8 sen. No dividends were declared for the past five years.
This article first appeared in The Edge Financial Daily, on March 25, 2015.
http://www.theedgemarkets.com/my
TANCO 登高控股 2429 TANCO HOLDINGS BHD
March 25, 2015 : 11:07 AM MYT
Tanco Holdings Bhd (-ve)
TANCO (Fundamental: 0.55/3; Valuation: 1.20/3) rose 1 sen or 6.7% to 16 sen yesterday with 13.1 million shares traded. This compared with the average 1.27 million shares traded daily in the previous 200 trading days.
The company is involved in property development and resort management with projects in KL, Kuantan and Port Dickson.
Tanco slipped into the red with net loss of RM83.2 million in FYJun2013 and has remained loss-making since. Net loss widened to RM6.6 million in 1HFY15 with revenue of just RM1.4 million.
Tanco has terminated its timeshare club and shifted focus to developing a water theme park (Splash Park), integrated resort (Palm Springs Resort City) and serviced suites (Splash Park Suites) in Port Dickson.
Net gearing ratio stood at 25.3% with negative interest cover. The stock is currently trading 68.5% below book value of 50.8 sen. No dividends were declared for the past five years.
This article first appeared in The Edge Financial Daily, on March 25, 2015.
http://www.theedgemarkets.com/my
