KEN (7323) - Stocks With Momentum: KEN
April 16, 2015 : 12:09 PM MYT
KEN Holdings Bhd (-ve)
Shares for property developer, KEN (Fundamental: 2.3/3, Valuation: 2.4/3) gained 10.2% this week, closing at a high of RM1.19 yesterday. Its shares are attractively valued and the company has strong fundamentals.
The company announced earlier in the week that it expects to commence a mixed development project in Kelantan by end-2015. The project has a GDV of RM80 million, comprising of a hotel and serviced suites.
KEN’s net profit rose 52.9% to RM32.0 million in 2014, on the back of 63.1% increase in revenue to RM91.1 million. This was attributed to the completion of Ken Rimba Jimbaran Residences, Shah Alam.
An ongoing project, Ken Rimba Condominium 1, which has a GDV of RM340 million, achieved an overall take-up rate of 75% as at end-March.
Meanwhile, KEN expects to start generating some RM10 million in annual rental income upon the completion of Menara Ken in Taman Tun Dr Ismail — which will also house its corporate office — by end-2015.
http://www.theedgemarkets.com
April 16, 2015 : 12:09 PM MYT
KEN Holdings Bhd (-ve)
Shares for property developer, KEN (Fundamental: 2.3/3, Valuation: 2.4/3) gained 10.2% this week, closing at a high of RM1.19 yesterday. Its shares are attractively valued and the company has strong fundamentals.
The company announced earlier in the week that it expects to commence a mixed development project in Kelantan by end-2015. The project has a GDV of RM80 million, comprising of a hotel and serviced suites.
KEN’s net profit rose 52.9% to RM32.0 million in 2014, on the back of 63.1% increase in revenue to RM91.1 million. This was attributed to the completion of Ken Rimba Jimbaran Residences, Shah Alam.
An ongoing project, Ken Rimba Condominium 1, which has a GDV of RM340 million, achieved an overall take-up rate of 75% as at end-March.
Meanwhile, KEN expects to start generating some RM10 million in annual rental income upon the completion of Menara Ken in Taman Tun Dr Ismail — which will also house its corporate office — by end-2015.
http://www.theedgemarkets.com
