Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on June 16, 2017

Country View Bhd (-ve)
SHARES in Country View Bhd (fundamental: 1.3/3, valuation: 3/3), which triggered our algorithm yesterday for the second time this year, closed unchanged at RM1.66, after 8,100 shares were traded, below the counter’s 200-day average volume of 12,830.5 shares.

Country View’s net profit for the first quarter ended Feb 28, 2017 (1QFY17) rose 37% to RM4.23 million from RM3.09 million last year, as revenue grew 10% to RM30.27 million from RM27.53 million. Sales of its serviced apartments and contributions from its Taman Nusa Sentral project in Johor drove revenue and profit before tax growth in 1QFY17. Fair value gain in 1QFY17 from additional investment properties also contributed to the profit.

The group expects its earnings for the rest of financial year 2017 to be driven by Taman Nusa Sentral with more phase launches including its affordable homes scheme.

At its current share price, Country View is trading at 0.54 times its book value.

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