Farlim Group (M) Bhd (-ve)
Shares of Farlim Group (Malaysia) Bhd (fundamental: 2.25/3; valuation: 2.40/3) triggered our momentum algorithm for the fifth time yesterday since 2015, after they rose 9.3% to 58.5 sen. It ended the day at 57.5 sen, 4 sen or 7.48% higher, after 793,700 shares were traded.
The Penang-based property developer reported a plunge in its unaudited net profit for the financial year ended Dec 31, 2015 (FY15), to RM12.70 million from RM47.10 million a year earlier, despite revenue jumping 88% to RM46.39 million from RM24.91 million.
For the fourth quarter ended Dec 31, the group announced RM9.67 million in profit, from a net loss of RM529,000 in the previous period, while revenue almost doubled to RM27.68 million from RM14.09 million.
Farlim’s shares trade at 0.5 times its book value. The company recently proposed a dividend payment of 2 sen per share for FY15. In FY14, the company paid a 5 sen dividend.
FARLIM (6041) - Stock With Momentum: Farlim Group (M)
http://www.theedgemarkets.com/my/article/stock-momentum-farlim-group-m
