This article first appeared in The Edge Financial Daily, on May 27, 2016.
I-Bhd (+ve)
SHARES in I-Bhd (fundamental: 2.3/3; valuation: 2/3) triggered our momentum algorithm yesterday for the third time this year. The counter closed 0.5 sen or 0.96% lower at 51.5 sen at the end of trading hours, with 2.4 million shares done, higher than its 200-day average volume of 453,968 shares.
The company is principally engaged in property development. Its flagship development is I-City, a 72- acre (29ha) freehold ultrapolis township with leisure attractions.
I-Bhd’s net profit rose to RM15.36 million or 1.45 sen a share in the three months ended March 31, 2016 (1QFY16), from RM10.24 million or 0.96 sen a share a year ago, on higher contribution from its property development and leisure segments.
Revenue rose 6.8% to RM80.45 million in 1QFY16 from RM75.35 million in 1QFY15.
At the current share price, I-Bhd is trading at a trailing price-earnings ratio of 11.99 times and 0.62 times its book value.
IBHD (4251) - Stock With Momentum: I-Bhd
http://www.theedgemarkets.com/my/article/stock-momentum-i-bhd-0
