I-Bhd (+ve)
SHARES of property developer I-Bhd (fundamental: 3/3; valuation: 2.4/3) triggered our momentum algorithm for the first time on Friday. The counter closed 1 sen or 1.85% higher at 55 sen last Friday, after hitting a peak of 55.5 sen earlier, with some 2.96 million shares traded. In comparison, its 200-day average volume stood at 539,793 shares.
Last month, I-Bhd launched a RM1 billion high-end luxurious residential project, 8KiaPeng, in the central business district vicinity of the Kuala Lumpur City Centre (KLCC).
For its financial year ended Dec 31, 2015 (FY15), I-Bhd’s net profit fell 19.5% year-on-year to RM43 million due to lower revenue from property development and property investment. Its revenue slid 1.4% to RM257.4 million from RM261.11 million a year ago. The group's unbilled sales as at end-2015 stood at RM691.7 million, up from RM546.3 million a year ago.
The stock currently trades at a trailing 12-month P/E of 12.45 times and is at 0.67 times its book value. Its trailing 12-month dividend yield is at 2.79%.
IBHD (4251) - Stock With Momentum: I-Bhd http://www.theedgemarkets.com/my/article/stock-momentum-i-bhd
