Golden Land Bhd (-ve)

SHARES in Golden Land Bhd (fundamental: 1.35/3, valuation: 2.6/3) triggered our momentum algorithm for the second time this month as its share price fell 1.5 sen or 2.3% to close at 63 sen, with 1.82 million shares traded. This compared with its 200-day average trading volume of 152,793 shares.

The company — involved in oil palm cultivation and milling saw its net loss widen to RM9.19 million in the fourth quarter ended June 30, 2016 (4QFY16), from RM1.33 million in 4QFY15, as operating expenses surged. Revenue rose 298.2% to RM1.76 million from RM442,000.

For FY16, net profit jumped 19.78 times to RM76.36 million, from RM3.86 million, due to an exceptional gain on disposal of four wholly-owned subsidiaries and a piece of agricultural land. Revenue, however, fell 31.5% to RM8.88 million from RM12.97 million.

The stock currently trades at a trailing 12-month price-earnings ratio of 1.83 times and is at 0.22 times book value.