Berjaya Assets Bhd (+ve)
Shares in Berjaya Assets Bhd (BAssets) (fundamental: 1.0/3; valuation 0.9/3), which triggered our momentum algorithm yesterday for the first time this year, closed 7.45% or four sen higher at 51 sen.
It saw 7.63 million shares traded, versus its 200-day average volume of 1.01 million shares.
The company is involved in property development and Investment property, including the Berjaya Times Square mall.
On March 29, 2018, BAssets proposed a bonus issue of 1.28 billion warrants on the basis of one warrant for every two shares held. The warrants will be issued at no cost to the entitled shareholders.
BAssets said the bonus issue is expected to be completed by the second quarter of 2018.
BAssets is currently trading at 0.55 times its book value. At the current price, it has a market capitalisation of RM1.2 billion.