Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on January 29, 2019

JAG Bhd (-ve)

TRADING of shares in JAG Bhd (fundamental: 1.45/3, valuation: 1.2/3) also triggered our stocks with momentum algorithm yesterday for the first time this year.

The stock closed unchanged at 7.5 sen yesterday, with 32.59 million shares done, compared with the counter’s 200-day average of 2.6 million shares.

On Dec 19, the property developer said it was buying a freehold plot in Klang for RM14.4 million for future development. At the time, the exact use of the land, measuring 16,720 sq m, has yet to be determined.

It said the purchase will be financed via a combination of internally generated funds, fundraising exercise and bank borrowings.

JAG is currently trading at 0.7 times its net book value.

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