EKSONS (9016) - Stocks With Momentum: Eksons
April 14, 2015 : 10:49 AM MYT
Eksons Corporation Bhd (-ve)
Eksons (Fundamental: 2.55/3, Valuation: 2.1/3) saw renewed interest with its share price rising 6 sen or 3.9% to all-time high of RM1.60 yesterday.
The plywood manufacturer has a 60%-owned property development arm which is the developer of a mixed-development project in Sri Kembangan. Last July, it completed the sale of 14.6 acres of land for RM140.3 million.
After the disposal, its net cash position increased significantly and stood at RM119.5 million, or a substantial 48.2% of its market capitalisation. Eksons plans to use the proceeds to fund on-going projects and expand its landbank in Klang Valley.
For 9MFY2015, net profit soared 243.2% to RM64.1 million, bolstered by the RM52.3 million net gain on the land disposal. Net profit from timber operations, however, dropped 24.2% to RM9.7 million, due to logs shortage and higher production costs.
The stock is trading at 48% below its book value of RM2.96. No dividends were declared for FY2014.
http://www.theedgemarkets.com
April 14, 2015 : 10:49 AM MYT
Eksons Corporation Bhd (-ve)
Eksons (Fundamental: 2.55/3, Valuation: 2.1/3) saw renewed interest with its share price rising 6 sen or 3.9% to all-time high of RM1.60 yesterday.
The plywood manufacturer has a 60%-owned property development arm which is the developer of a mixed-development project in Sri Kembangan. Last July, it completed the sale of 14.6 acres of land for RM140.3 million.
After the disposal, its net cash position increased significantly and stood at RM119.5 million, or a substantial 48.2% of its market capitalisation. Eksons plans to use the proceeds to fund on-going projects and expand its landbank in Klang Valley.
For 9MFY2015, net profit soared 243.2% to RM64.1 million, bolstered by the RM52.3 million net gain on the land disposal. Net profit from timber operations, however, dropped 24.2% to RM9.7 million, due to logs shortage and higher production costs.
The stock is trading at 48% below its book value of RM2.96. No dividends were declared for FY2014.
http://www.theedgemarkets.com
