Stock With Momentum: HARN Len Corp

This article first appeared in The Edge Financial Daily, on March 6, 2019.
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Harn Len Corp Bhd (-ve)
HARN Len Corp Bhd (fundamental: 0.2/3, valuation: 0.9/3), which made it into our Stocks with Momentum list yesterday for the first time this year, closed up 15 sen or 30% at 65 sen, with a market capitalisation of RM112.59 million.

The counter saw 828,500 shares done, versus its 200-day average trading volume of 9,932 shares.

The company is principally involved in oil palm cultivation and milling operations, located mainly in Pahang and East Malaysia. It also has units involved in investment property, property development and investment in the hospitality sector.

On Monday, Harn Len confirmed a report in The Edge Malaysia weekly that it plans to sell its its 5,230-acre (2,116.51ha) Senang Oil Palm Estate and 5,250-acre Lian Hup Estate in Keratong, Pahang, via open tenders. The latter includes a mill with a capacity of 40 tonnes of fresh fruit bunches per hour.

As at yesterday, Aturmaju was trading at 0.4 times its book value.