By Asia Analytica / The Edge Financial Daily | July 25, 2016 : 10:54 AM MYT
This article first appeared in The Edge Financial Daily, on July 25, 2016.
Tadmax Resources Bhd (-ve)
Tadmax Resources Bhd (fundamental: 1.7/3, valuation: 0.9/3) rose to its two-year high of 53.5 sen last Friday, triggering our momentum algorithm for the second time this month.
Its share price has been climbing steadily, gaining 57.35% as of last Friday’s close of 53.5 sen a share, from 34 sen on June 13 this year.
Tadmax is a timber cum property developer. Late last month, it aborted the sale of its 60-acre (24ha) leasehold land on Pulau Indah in Klang, Selangor, to Inai Kiara Sdn Bhd for RM48.35 million, after the two decided to mutually terminate the deal.
More recently, Tadmax is disposing of an affordable housing project, along with other common facilities, to Labuan Corp for nearly RM50 million.
For its first quarter ended March 31, 2016 (1QFY16), Tadmax’s net loss widened to RM2.99 million from RM2.53 milllion a year ago, due to expenses incurred in raising bank borrowings, while revenue for 1QFY16 came in at RM5.5 million, contributed by its property and industrial business segments.
TADMAX (4022) - Stock With Momentum: Tadmax Resources