KUB Malaysia Bhd (-ve)
KUB Malaysia Bhd (fundamental: 1.8/3; valuation: 3/3), which saw 5.41 million shares traded last Friday compared to its 200-day average of 1.89 million shares, settled one sen or 2.8% higher at 36.5 sen, giving it a market capitalisation of RM203.11 million.
Net profit fell 11.6% year-on-year to RM7.1 million for the first financial quarter ended March 31, 2018, from RM8.03 million, as revenue retreated 8.6% to RM135.81 million from RM148.59 million.
Earlier this month, KUB group managing director Datuk Abdul Rahim Mohd Zin said the group is “more likely” to sell its 1.05-acre (0.42ha) land in Petaling Jaya, where the landmark A&W PJ Drive-In is situated, than to develop the land itself.
“We never had a firm intention to fully develop it ourselves. If we cannot get a good offer and we have to develop, we would probably develop it jointly with others,” he reportedly said, adding that in the case of a disposal, the group will also not seek to be the manager of the new property there.