This article first appeared in The Edge Financial Daily, on July 11, 2016.
Tadmax Resources Bhd (-ve)
SHARES in Tadmax Resources Bhd (fundamental: 1.7/3, valuation: 1.5/3) triggered our momentum algorithm for the eighth time this year. The counter closed up one sen or 2.22% higher at 46 sen last Friday, with some 3.58 million shares traded.
Tadmax’s core businesses include timber concessions, extraction and sale of logs, property development, healthcare (boutique medical centre), land and sea reclamation and construction works, financial services and food manufacturing. For its first financial quarter ended March 31, 2016 (1QFY16), Tadmax’s net losses widened to RM2.99 million, from RM2.53 milllion a year ago, due to expenses incurred in raising bank borrowings. Revenue for 1QFY16 came in at RM5.5 million, contributed by both its property and industrial business segments.
The company was reported to have obtained the nod for a 1,000mw combined cycle gas turbine power plant project that would cost around RM3 billion to develop on its 60-acre (24ha) piece of land on Pulau Indah. However, Tadmax has yet to confirm this.
The stock is currently trading at 0.78 times its book value.
TADMAX (4022) - Stock With Momentum: Tadmax Resources
http://www.theedgemarkets.com/my/article/stock-momentum-tadmax-resources-2
