This article first appeared in The Edge Financial Daily on March 14, 2018 - March 20, 2018
Lien Hoe Corp Bhd (-ve)
SHARES in Lien Hoe Corp Bhd (fundamental: 1.15/3, valuation: 0.9/3) triggered our stocks with momentum algorithm yesterday for the first time this year.
The stock closed down 10% or 4.5 sen to 40.5 sen, with 11.04 million shares done versus the counter’s 200-day average of 556,750 shares.
For the fourth quarter ended Dec 31, 2017 (4QFY17), the property firm reported a net profit of RM33.97 million versus a net loss of RM8.63 million a year ago on recognition of an RM53.6 million gain from the disposal of a piece of land in Johor Baru.
Quarterly revenue dropped 70% to RM11.71 million from RM39.23 million a year ago on lower billings by the construction segment.
For the full year, the group narrowed its net loss to RM2.42 million from RM49.01 million in FY16, while revenue dropped 41% to RM73.11 million from RM123.77 million.
Lien Hoe is currently trading at 0.27 times its net book value.