EcoFirst Consolidated Bhd (-ve)
Property developer EcoFirst Consolidated Bhd (fundamental: 0.80/3, valuation: 2.10/3) triggered our momentum algorithm for the second time this year yesterday, as it rose one sen or 4% higher to 26 sen, after 5.63 million shares were traded, compared with its 200-day average volume of 2.2 million shares.
According to bourse filings, its major shareholder Datuk Teo Seng Kian had been raising his stake in the company. Based on Bloomberg’s latest data, his stake in EcoFirst rose to 14.58%, from 13.24% on Oct 8, 2015.
Seng Kian is the alternate director to the group’s president or non-independent executive director Datuk Dr Teoh Seng Foo, who is also his brother.
As at yesterday, Seng Kian and Seng Foo, with another brother Teoh Seng Aun, held nearly 26% of the company’s shares, while the group’s chief executive officer Datuk Tiong Kwing Hee owned a 16.08% stake.
The stock is now trading at a trailing 12-month price-earnings ratio of about 9.43 times.
ECOFIRS (3557) - Stock With Momentum: EcoFirst Consolidated http://www.theedgemarkets.com/en/node/275269
