Ken Holdings Bhd (-ve)

SHARES in Ken Holdings Bhd (fundamental: 2/3, valuation: 2.4/3) triggered our momentum algorithm yesterday for the first time this year. The counter closed three sen or 3.37% higher at 92 sen yesterday, with some 178,700 shares traded.

The company is involved in property development and construction activities. Among its soon-to-be-launched projects is the Menara Ken, located in Taman Tun Dr Ismail.

For the nine months ended Sept 30, 2016 (9MFY16), Ken Holdings reported a net profit of RM16.49 million, a 31.3% increase from its 9MFY15 net profit of RM12.56 million due to higher volume of work done during the period.

Revenue for 9MFY16 came in higher by 30.5% at RM56.9 million, from RM43.6 million a year ago.

The stock is currently trading at 0.68 times its book value, and at 6.11 times its trailing 12-month price earnings.