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Stocks With Momentum: Connectcounty
by Cals Tue 14 Apr 2015, 19:04
Stocks With Momentum: Connectcounty
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By theedgemarkets.com / theedgemarkets.com | April 14, 2015 : 10:47 AM MYT
Connectcounty Holdings Bhd (-ve)
Ace market-listed, Connectcounty ([size=14]CCHB) (Fundamental: 0.95/3, Valuation: 0/3) mainly provides cables, wires and connectors such as HDMI cables and USB connectors to the interconnect industry.
CCHB has been operating in the red since 2011. Revenue for 2014 declined slightly by 0.5% to RM52.54 million, while net loss was higher at RM3.34 million as compared to RM1.1 million a year ago.
On April 1, 2015, CCHB had proposed to diversify into electrical, mechanical and telecommuncation engineering by acquiring Kejuruteraan Asastera Sdn Bhd (KASB) for RM25 million.
The company intends to undertake a rights issue of irredeemable convertible preference shares (ICPS), raising a minimum proceeds RM16.5 million, of which RM12.5 million will be used to fund the acquisition of KASB. The remaining RM12.5 million required will be settled through 250 million ICPS.
CCHB has net cash of RM4.47 million as end-2014. The stock currently trades at 2.5 times book-value.
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This article first appeared in The Edge Financial Daily, on April 14, 2015.
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By theedgemarkets.com / theedgemarkets.com | April 14, 2015 : 10:47 AM MYT
Connectcounty Holdings Bhd (-ve)
Ace market-listed, Connectcounty ([size=14]CCHB) (Fundamental: 0.95/3, Valuation: 0/3) mainly provides cables, wires and connectors such as HDMI cables and USB connectors to the interconnect industry.
CCHB has been operating in the red since 2011. Revenue for 2014 declined slightly by 0.5% to RM52.54 million, while net loss was higher at RM3.34 million as compared to RM1.1 million a year ago.
On April 1, 2015, CCHB had proposed to diversify into electrical, mechanical and telecommuncation engineering by acquiring Kejuruteraan Asastera Sdn Bhd (KASB) for RM25 million.
The company intends to undertake a rights issue of irredeemable convertible preference shares (ICPS), raising a minimum proceeds RM16.5 million, of which RM12.5 million will be used to fund the acquisition of KASB. The remaining RM12.5 million required will be settled through 250 million ICPS.
CCHB has net cash of RM4.47 million as end-2014. The stock currently trades at 2.5 times book-value.
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This article first appeared in The Edge Financial Daily, on April 14, 2015.
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