FGV (5222) - Stock With Momentum: Felda Global Ventures
By Asia Analytica / The Edge Financial Daily | August 5, 2016 : 10:41 AM MYT
Felda Global Ventures Bhd (+ve)
Shares in Felda Global Ventures Bhd (FGV) (fundamental: 0.75/3, valuation: 0.8/3) triggered our momentum algorithm for the second time, following trades of 21.7 million shares, compared to its 200-day average volume of 7.27 million. FGV dropped seven sen or 3.55% at RM1.90.
FGV was recently reported to be a target company, as a strategic investment company affiliated with the Tradewinds Group is said to be planning a stake purchase in the group.
This follows the abortion of FGV’s plan to acquire Indonesia’s PT Eagle High Plantations Tbk for US$680 million (RM2.75 billion), as the group said it would put a hold on all its mergers and acquisitions plans this year.
FGV currently trades at 1.14 times its net asset value. The group paid four sen dividend per share in 2015.
FGV (5222) - Stock With Momentum: Felda Global Ventures
http://www.theedgemarkets.com/my/article/stock-momentum-felda-global-ventures
