This article first appeared in The Edge Financial Daily, on June 17, 2016.
CME Group Bhd (+ve)
SHARES in CME Group Bhd (fundamental: 0.2/3, valuation: 0.9/3) triggered our algorithm momentum for the first time yesterday. The loss-making company, which primarily designs and manufactures firefighting and specialist vehicles, has been looking to diversify its business.
Last month, CME Group bought a 1,172-sq m land that is in the vicinity of Publika Shopping Gallery, the Matrade Exhibition and Convention Centre and Stadium Hoki Tun Razak. The RM4.7 million land, the company said, was for its future development.
Its stock yesterday closed at 5.5 sen, which was 0.3 times its net asset value. While its net loss of RM388,000 in the first quarter of March 31, 2016 (1QFY16) was slightly higher than the previous year’s RM323,000, CME Group’s sales in the quarter rose by 58% to RM7.13 million.
CME (7018) - Stock With Momentum: CME Group