Stock With Momentum: Mah Sing Group Bhd (+ve)
SHARES in Mah Sing Group Bhd (fundamental: 2.6/3, valuation: 2.0/3) triggered our momentum algorithm yesterday, the first time since it began tracking, after the counter rose 2 sen or 1.24% to close at RM1.64, with some 12.23 million shares traded. Its 200-day average volume was 1.05 million shares.
The property developer has appointed Ho Hon Sang as chief executive officer (CEO) cum executive director, effective yesterday.
Ho is taking over from Ng Chai Yong, who resigned to pursue other interests. Ho was formerly the CEO of property developer Sunsuria Bhd, a position he held until May 23 this year.
In the first quarter ended March 31, 2016, Mah Sing’s net profit slipped 3.89% to RM95.03 million from RM98.89 million, as revenue from property development decreased.
Revenue declined 9.56% to RM709.17 million from RM784.14 million.
The stock currently trades at a trailing 12-month price-earnings ratio of 10.2 times and is at 1.23 times book value.
MAHSING (8583) - Stock With Momentum: Mah Sing Group