Perak Corporation Bhd (+ve)
PERAK Corp’s (Fundamental: 1.9/3, Valuation: 1.7/3) share price rose 5.5% to RM3.29 after it posted a strong set of 1Q15 results last Friday.
The Ipoh-based company also declared a special interim dividend of 30 sen per share, which will be paid on 30 June 2015. The stock will trade ex-dividend next Friday, 5 June 2015.
In April, Perak Corp completed the disposal of its 15.74% stake in Integrax Bhd to Tenaga Nasional Bhd for approximately RM150.31 million at a revised offer price of RM3.25 per share.
For 1Q15, it recorded a net profit of RM15.3 million, reversing from a net loss of RM2.0 million a year ago. Revenue more than doubled from RM22.6 million to RM50.9 million, boosted by higher revenue from township development, dividend from quoted shares and rental income.
The stock is trading at a trailing 12-month P/E of 6.0 times and 47% below book value of RM6.21.
PRKCORP (8346) - Stock With Momentum: Perak Corporation
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