This article first appeared in The Edge Financial Daily, on April 28, 2016.

JKG Land Bhd (-ve)

A 2.38% jump in JKG Land Bhd’s share price has made the stock trigger our momentum algorithm for the first time. JKG Land was formerly known as Keladi Maju Bhd, and is principally engaged in property development and property investment. The stock gained 2.5 sen or 13.2% to finish at 21.5 sen yesterday from its year’s low of 19 sen on March 14, after 2.82 million shares changed hands.

For the financial year ended Jan 31, 2016 (FY16), JKG Land posted a 2.5% jump in net profit to RM18.99 million from RM18.53 million, while revenue fell 17.3% to RM43.44 million from RM52.55 million a year ago.

For the current FY17, JKG Land’s projects in progress include the housing development in Taman Lagenda and Taman Desa Cinta Sayang.

Phase 2 of Taman Lagenda, comprising 450 residential houses, is expected to be completed with a Certificate of Completion and Compliance for launch this year. For Taman Desa Cinta Sayang, phase 1S and phase 1A are targeted to be completed and handed over to purchasers by the first half of the year.