This article first appeared in The Edge Financial Daily, on April 28, 2016.
Selangor Dredging Bhd (-ve)
SHARES in Selangor Dredging Bhd (fundamental: 1.3/3, valuation: 3/3) triggered our momentum algorithm for the first time after a 2% rise in its share price yesterday.
The stock’s upward spiral began on April 11, and saw it rising as much as 10 sen or 10.9% to settle at RM1.02 yesterday. Trading volume was 878,700 shares, compared with its 200-day average volume of 34,774 shares.
It has unbilled sales of RM399 million, which could support its earnings for the financial year ended March 31, 2016 (FY16). It also has a pipeline of projects this year, including The Cube — a multi-storey office block with retail space — as well as Sqwhere’s serviced apartment tower, which will be launched in the first half.
Selangor Dredging will announce its fourth-quarter (4Q) results by next month. For the 3Q ended Dec 31, 2015 (3QFY16), its net profit fell to RM6.22 million from RM8.04 million, while revenue slid to RM62.59 million from RM112.82 million.
SDRED (2224) - Stock With Momentum: Selangor Dredging
http://www.theedgemarkets.com/en/node/275595
