Farlim denies involvement in US$15b Asean International Eco-City project

KUALA LUMPUR (Feb 9): Farlim Group (M) Bhd said it is not involved in the Asean International Eco-City project in Shandong Province, China, as reported by a local daily on Feb 7, 2015.

In an announcement today, Farlim (fundamental: 1.95; valuation: 0.9) clarified that the RM53.4 billion (US$15 billion) project is undertaken by its parent company, Farlim Holding Sdn Bhd.

“Farlim Group (M) Bhd wishes to clarify that it is not involved in the Shandong project, referred to in the said press report. The project reported is undertaken by Farlim Holding Sdn Bhd, and not by Farlim Group (M) Bhd,” it said in the filing to Bursa Malaysia.

Farlim closed 1.5 sen or 2.7% lower at 53.5 sen, bringing its market capitalisation to RM77.18 million.

(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.)