KTB (4847) - Hot Stock - KTB erases gains after rising on news of fare hike
March 20, 2015 : 11:36 AM MYT
KUALA LUMPUR (March 20): Konsortium Transnasional Bhd (KTB) erased its gains at mid-morning in active trade, after rising yesterday following the Land Public Transport Commission’s (SPAD) announcement of a hike in fares for express buses.
At 11.18am, KTB (fundamental: 0.3; valuation: 0.6) fell 1 sen or 2.6% to 37 sen, with a high volume of 13.1 million shares traded.
The counter had earlier fallen as much as 1.5 sen or 4% to a low of 36.5 sen, and was among the top active stocks on the exchange.
SPAD yesterday announced a fare hike for express buses to 11.4 sen per km, up 23% from 9.3 sen per km. The hike is effective May 15.
“These fare adjustments have factored in the GST (goods and services tax) – although these fares have no GST, the business operating costs do incur GST,” said SPAD chairman Tan Sri Syed Hamid Albar.
Following the announcement, KTB’s shares rose 7 sen or 23% to close at its intraday high of 38 sen yesterday, from its closing of 31 sen on the previous day.
KTB is the largest public bus transportation operator in Malaysia, operating the Transnasional, Nice, Plusliner, Cityliner and KL City Airport brands.
KTB was highlighted among the stocks with momentum by theedgemarkets.com yesterday.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
http://www.theedgemarkets.com
March 20, 2015 : 11:36 AM MYT
KUALA LUMPUR (March 20): Konsortium Transnasional Bhd (KTB) erased its gains at mid-morning in active trade, after rising yesterday following the Land Public Transport Commission’s (SPAD) announcement of a hike in fares for express buses.
At 11.18am, KTB (fundamental: 0.3; valuation: 0.6) fell 1 sen or 2.6% to 37 sen, with a high volume of 13.1 million shares traded.
The counter had earlier fallen as much as 1.5 sen or 4% to a low of 36.5 sen, and was among the top active stocks on the exchange.
SPAD yesterday announced a fare hike for express buses to 11.4 sen per km, up 23% from 9.3 sen per km. The hike is effective May 15.
“These fare adjustments have factored in the GST (goods and services tax) – although these fares have no GST, the business operating costs do incur GST,” said SPAD chairman Tan Sri Syed Hamid Albar.
Following the announcement, KTB’s shares rose 7 sen or 23% to close at its intraday high of 38 sen yesterday, from its closing of 31 sen on the previous day.
KTB is the largest public bus transportation operator in Malaysia, operating the Transnasional, Nice, Plusliner, Cityliner and KL City Airport brands.
KTB was highlighted among the stocks with momentum by theedgemarkets.com yesterday.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
http://www.theedgemarkets.com
