KUALA LUMPUR (MARCH 11): Sunsuria Bhd rose 3.82% or 6 sen to end the morning session on Wednesday at RM1.23 with 2.32 million shares done after the property developer said its land bank would rise to RM11 billion in gross development value following a land injection from its largest shareholder.
The stock had earlier risen to RM1.70 but gave up the gains. For comparison, the FBM KLCI fell 8.10 points to 1,781.63.
Sunsuria's (fundamental:2.5; valuation:1.2) share trade was suspended for two days before announcing its largest shareholder Datuk Ter Leong Yap would be injecting over 440 acres into the company, raising its total project GDV to RM11 billion from RM300 million.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)