Tambun Indah Land Bhd (+ve)
TRADING in the shares of Tambun Indah Land Bhd (fundamental: 2.55/3, valuation: 2.40/3) triggered our proprietary momentum algorithm yesterday for the second time this year.
The stock closed up three sen or 3.43% at 91 sen, with 2.04 million shares done, exceeding its 200-day average volume of 542,252 shares.
The property developer saw its net profit more than halve to RM11.36 million in the first quarter ended March 31, 2018 (1QFY18) from RM23.29 million a year ago, while revenue fell 49.6% to RM40.08 million from RM79.49 million in 1QFY17.
At the current share price, Tambun Indah is trading at 0.66 times its book value, with a market capitalisation of RM389.97 million.