Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on December 7, 2015.

 

CAB Cakaran Corporation Bhd (-ve)

Integrated poultry farmer CAB (Fundamental: 0.55/3, Valuation: 1.1/3) triggered our momentum algorithm for the second time since October 27. The stock has risen by 19.9% to RM1.69 since announcing its 4QFYSept2015 results last Friday. 

For 4Q2015, revenue rose 46.6% y-y to RM262.8 million, boosted by higher sales from the integrated poultry farming and processing division. This includes contributions from newly acquired subsidiaries in Singapore. However, pre-tax profit — excluding a fair value gain on investment properties of RM6.4 million — fell 11.1% to RM9.9 million, mainly due to lower average selling prices of broilers.

Notably, CAB’s third largest shareholder Tan Chin Tee has acquired a total of 648,400 shares or 0.4% stake in the company last month. Tan now holds 8,184,100 shares or 5.4% stake in the company.

Penang-based CAB is primarily engaged in poultry farming and processing of chicken products. The company also has interests in supermarket (Jaya Gading) and fast food business (Kyros Kebab). 

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