Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on April 11, 2016.

 

Econpile Holdings Bhd (-ve)

SHARES of Econpile Holdings Bhd (fundamental: -/3; valuation: -/3) triggered our momentum algorithm for the first time, on Friday. It closed 5 sen or 3.94% higher at RM1.32, after some 4.47 million shares changed hands. In comparison, its 200-day average volume is 807,117 shares.  

The piling specialist also bagged a RM54.5 million contract last week. In a bourse filing, Econpile said its wholly-owned subsidiary, Econpile (M) Sdn Bhd had received a letter of award dated Mar 31, 2016 from Prestij Permai Sdn Bhd to undertake the substructure works for a commercial development in Shah Alam. The contract is expected to complete in November 2017.

Econpile expects the contract to contribute to its revenue and earnings for the financial year ending June 30, 2016 (FY16).

The stock currently trades at a trailing 12-month P/E of 11.81 times and is at 3.14 times its book value.

econpile_swm_pg10_fd110416_theedgemarkets

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