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This article first appeared in The Edge Financial Daily on August 10, 2018

UEM Sunrise Bhd (-ve)
Trading of the shares in UEM Sunrise Bhd (fundamental: 0.65/3, valuation: 2/3), which triggered our momentum algorithm yesterday for the second time this year, pushed the counter up three sen or 3.17% to settle at 97.5 sen.

At the closing price, the stock has a market capitalisation of RM4.42 billion. The property developer saw 6.27 million shares traded.

The group recently set up a campaign to celebrate its 50 years of community building, which managing director and chief executive officer Anwar Syahrin Abdul Ajib believes can help the group achieve its RM1.2 billion 2018 sales target.

He said the group has achieved 60% to 70% of its sales target and is “pretty much on track” to getting to its goal.

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