Naim Indah Corp Bhd (+ve)
Shares in Naim Indah Corp Bhd (fundamental: 0.7/3, valuation: 0.3/3) triggered our momentum algorithm for the first time this month, after the counter saw some 22.94 million shares change hands, compared to its 200-day average volume of 2.5 million shares. The counter closed up one sen or 12.5% at nine sen yesterday.
Naim Indah in June aborted a memorandum of understanding with United Pacific Development Co to build a 32-storey office tower in Yangon, Myanmar, as the parties could not reach an agreement for their proposed joint venture.
For the first quarter ended March 31, 2016, the company reported a 61% increase in net profit to RM108,000 from RM67,000 in the previous year, and a 153% spike in revenue to RM2.32 million.
Naim Indah is trading at 1.04 times its net book value. The company did not pay out any dividend for its financial year ended Dec 31, 2015.
NICORP (4464) - Stock With Momentum: Naim Indah Corp
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