This article first appeared in The Edge Financial Daily, on January 12, 2016.
Seal Incorporated Bhd (+ve)
Shares of Seal Incorporated Bhd (Fundamental: 1.85/3.0, Valuation: 0.9/3.0) have retreated by 0.82% yesterday to close at 60.5 sen. The stock however had surged by 22.2% in the second week of 2016. Seal was relatively high in volume with 2.2 million shares changing hands compared to its average 200-day volume of 221,108 shares.
Seal is primarily engaged in property development and mall management in Selayang Mall Shopping Complex. The Group is also involved in sales of timber logs, other timber related products and provision of logging infrastructure.
For its 1QFY2016 report, revenue surged by 287.1% y-o-y to RM24 million while net profit jumped 838.9% to RM2.2 million, mainly contributed by property management, property development and property construction from a development project known as “Queensville” located at Cheras, Kuala Lumpur.
At 60.5 sen, the stock is currently trading at 54.5% of its net tangible asset value of RM1.11.