JOBST (0058) - Stocks With Momentum: Jobstreet Corporation Bhd
Jobstreet Corporation Bhd
JOBSTREET (Fundamental: 2.3/3, Valuation: 2.4/3) saw its share price rise 16.5% to 46 sen on Wednesday with ten-fold increase in volume to 63.5 million shares. It closed 1 sen lower yesterday with 35.7 million shares changed hands.
Given that the stock continues to rise even after the large dividend payment — due to disposal of its core business — suggests investors are speculating on a new future for the company, particularly given its entrepreneurial management.
Interestingly, former central banker Tan Sri Dato' Dr Lin See Yan, a director and shareholder of Jobstreet, bought 100,000 shares at 39.5 sen last Monday. The company’s net assets (mostly cash) stand at 36 sen per share, and are understated as it has unrealised gain of RM29.75 million on marketable securities (mainly shares of 104 Corp Taiwan) at end-Sept 2014 and an 8-storey office building in Jalan Sultan Ismail, Kuala Lumpur acquired in 2005 and valued at only RM13 million.
http://www.theedgemarkets.com/
Jobstreet Corporation Bhd
JOBSTREET (Fundamental: 2.3/3, Valuation: 2.4/3) saw its share price rise 16.5% to 46 sen on Wednesday with ten-fold increase in volume to 63.5 million shares. It closed 1 sen lower yesterday with 35.7 million shares changed hands.
Given that the stock continues to rise even after the large dividend payment — due to disposal of its core business — suggests investors are speculating on a new future for the company, particularly given its entrepreneurial management.
Interestingly, former central banker Tan Sri Dato' Dr Lin See Yan, a director and shareholder of Jobstreet, bought 100,000 shares at 39.5 sen last Monday. The company’s net assets (mostly cash) stand at 36 sen per share, and are understated as it has unrealised gain of RM29.75 million on marketable securities (mainly shares of 104 Corp Taiwan) at end-Sept 2014 and an 8-storey office building in Jalan Sultan Ismail, Kuala Lumpur acquired in 2005 and valued at only RM13 million.
http://www.theedgemarkets.com/
