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This article first appeared in The Edge Financial Daily on October 30, 2017 - November 5, 2017

Hua Yang Bhd  (-ve)

Shares in Hua Yang Bhd (fundamental: 1.4/3, valuation: 2.4/3) triggered our momentum algorithm for the first time this month to close unchanged at 83 sen last Friday.

A total of 460,100 shares were traded, versus its 200-day average trading volume of 273,722 shares.

Last Tuesday, the property developer launched its latest development in Johor Baru, featuring 64 units of cluster homes and two units of link bungalows with an estimated gross development value (GDV) of RM41.72 million.

Sitting on 3.99 acres (1.61ha) of freehold land, Hua Yang said this project (Parcel 1) is part of Oval, which makes up Phase One of Elemence — the group’s new eight-phase mixed development in Taman Denai Alam, Johor Baru.

Hua Yang currently has a total undeveloped land bank of 468 acres with a potential GDV of RM4.5 billion. Hua Yang trades at 0.49 times its net book value.

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