Friday 29 Mar 2024
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KUALA LUMPUR (June 9): Shares of Golden Land Bhd fell 9.42% in early trade today after Felda Global Ventures Holdings Bhd (FGV) acquired land owned by Golden Land for RM655 million.

In a Bursa Malaysia announcement yesterday, Felda (fundamental: 1.15; valuation: 1.4) said it entered into a conditional sale and purchase agreement with Golden Land (fundamental: 0.7; valuation: 2.0) via its wholly-owned subsidiary, Pontian United Plantations Bhd.

At 9.22am, Golden Land lost 18 sen to RM1.73 with 1.44 million shares done. Meanwhile, FGV fell 0.52% or one sen to RM1.90 with 216,500 shares done.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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