Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on July 26, 2016.

 

Felda Global Ventures Holdings Bhd (-ve)

SHARES in Felda Global Ventures Holdings Bhd (FGV) (fundamental: 0.75/3, valuation: 0.8/3) triggered our momentum algorithm yesterday for the first time.

The counter closed nine sen or 5.06% higher at RM1.87 yesterday, after some 27.04 million shares were traded, making it the eighth most actively traded counter on Bursa Malaysia. In comparison, its 200-day average volume is only around 7.33 million.

FGV plunged into the red with a net loss of RM65.54 million in the first quarter ended March 31, 2016, from a net profit of RM3.58 million last year, mainly due to lower crude palm oil production in palm upstream segment.

Revenue, however, rose 38.75% to RM3.76 billion from RM2.71 billion.

The counter has been on an upward trend since end-May, rising some 37.04%.

The stock currently trades at a trailing 12-month price-earnings ratio of 135.26 times and is at 1.08 times book value.

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