This article first appeared in The Edge Financial Daily, on August 8, 2016.
Titijaya Land Bhd (+ve)
SHARES in Titijaya Land Bhd (fundamental: 1.9/3, valuation: 1.8/3) fell two sen or 1.27% to RM1.55 with 1.18 million shares traded. In comparison, it has a 200-day average volume of 117,790 shares. This is the first time Titijaya has been selected by our proprietary algorithm as “stocks with momentum”. Year to date, its share price has fallen by 12.92% from RM1.78 on Jan 4.
For the third quarter ended March 31, 2016 (3QFY16), Titijaya saw its net profit shrink by 29.29% to RM15.17 million from RM21.46 million a year ago, while revenue declined 13.8% to RM103.65 million, from RM120.24 million in 3QFY15.The weaker performance was mainly due to lower revenue for the quarter under review, coupled with higher expenses.
Moving forward, Titijaya said the business environment will be challenging, but based on its ongoing and upcoming projects, it is hopeful that its performance for FY16 will be satisfactory through the continuous sales of the development projects as well as new launches.
http://www.theedgemarkets.com/my/article/stock-momentum-titijaya-land
