THIS PROPERTY STOCK IS CHARGING AHEAD !!!

Hello to all readers out there. Property Theme Play just started on our local bourse in conjuction with the current run up on STEEL counters. It goes hand in hand . Steel counters are expected to hog the limelight going forward. 

I foresee Property counters too should follow this trend.

FBM KLCI PROERTY INDEX SURGED in recent days and this trend should continue 

Having said the above, the stock which I'd like to talk about today is 

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- Stock Code 1147, PROPERTY,  Main Market

BASIC INFORMATION ABOUT KSSC

Global Oriental Berhad ("GOB") was listed on the Main Market of Bursa Malaysia Securities Berhad on 28 October 2003. The Group's core competency is in property development. Its township developments comprising mixed residential and commercial properties are located mainly in Klang Valley. The Group has been engaged in property development activities since 1992 and has successfully developed and handed over numerous residential and commercial properties throughout the years.

Market Capitalization : RM 259 million (as at writing)

Shares Float : 454 million

Website : https://www.gob.com.my/overview.php

1. A SUPERB QUARTER RESULT WHEN OTHERS DOING BADLY !!!

Refer below latest quarter result in Nov 2020. While others are doing bad, GOB had posted 186% increase NP QoQ & 15.17% increase in NP YoY !!!

Revenue peak at RM104.1 million with net profit of RM 5.173 mil 

Also, we note that the NTA also stood strong at 0.56c per share.

CONCLUSION

Considering all the above, I opine that current price for GOB is attractive due to below:

i) Good QR earnings as other companies report bad results. 

ii) GOB has seen increased daily average volume since Thursday, 3-Dec-2020 where the share price moved from a low of 0.465 to close the day at 0.540 and this momentum carried it higher on  Friday, 4 Dec 2020 where it hit a high of 0.59 and closed the day in the positive territory of 0.57 with a gain of 3 c EVEN on  bad market sentiments

iii) next resistances  0610 / 0.65/ 0.78

iv)  52-Week High 0.78 on 14 Sep 2020

LET’S SEE HOW THE SHARE PRICE MOVEMENT IN THE NEAR FUTURE FORBEARING ANY GOOD CORPORATE NEWS.

Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.

BURSAMASTER