BCB Bhd (-ve)
SHARES of property developer BCB (Fundamental: 0.6/3, Valuation: 2.2/3) added 4.2% to close at RM1.23 yesterday. A total of 169,300 shares changed hands, 2.4 times its average daily trading volume.
The company is principally engaged in property development with three township projects in Batu Pahat and high-end housing projects in the Klang Valley and Medini, Iskandar Malaysia. It is also involved in construction, and operates a hotel in Kluang, Johor.
For FYJun2015, revenue rose 40% to RM394.5 million, while net profit rose 5.6% to RM32.4 million, thanks to better sales from two high-end projects in Klang Valley — Concerto North Kiara and Home Tree. These projects, with a total gross development (GDV) of RM2.4 billion, have so far recorded a total sales of RM690 million.
The stock is trading at a relatively low trailing 12-month P/E of 7.3 times and 0.58 times book. Dividends totalled 3 sen for FY2014, yielding investors 2.5%.
This article first appeared in digitaledge Daily, on September 18, 2015.