UEMS (5148) - Stock With Momentum: UEM Sunrise
UEM Sunrise Bhd (+ve)
Shares in UEM Sunrise Bhd (fundamental: 1.15/3, valuation: 1.4/3) triggered our momentum stock algorithm for the first time yesterday, following trades of 24.67 million shares. Its 200-day average volume stood at 6.86 million. The counter closed up two sen or 1.8% at RM1.13.
UEM Sunrise in July called off a joint venture with WCT Holdings Bhd and Jubilant Courtyard Sdn Bhd for the development of a township in Serendah, Selangor, with a gross development value of RM3 billion.
For the first quarter ended March 31, 2016, UEM Sunrise’s net profit plunged 94% to RM3.02 million or 0.07 sen per share, from RM53.14 million or 1.17 sen per share in the previous year, due to lower sales in the period. Revenue for the quarter declined 38% to RM257.75 million, from RM417.45 million.
UEM Sunrise currently trades at 0.74 times its net asset value. The company paid 1.6 sen per share in dividends for the financial year ended Dec 31, 2015.
UEMS (5148) - Stock With Momentum: UEM Sunrise
http://www.theedgemarkets.com/my/article/stock-momentum-uem-sunrise
