IFCA MSC gets UMA query after share price, volume surge

by **Cals** Sun 27 Sep 2015, 17:27

UMA

[size=28]IFCA MSC gets UMA query after share price, volume surge

By Esther Lee / theedgemarkets.com | September 25, 2015 : 7:19 PM MYT

KUALA LUMPUR (Sept 25): IFCA MSC Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 3.00) was slapped with an unusual market activity (UMA) query today by Bursa ( Valuation: 2.10, Fundamental: 2.30) Malaysia over the rise in volume and price of the company's shares recently.

Today, IFCA's share price surged 10.23% to 97 sen after 83.02 million shares were done.

The counter, which was trading as high as RM1.84 on May 18 after Bloomberg wrote that it was the world's top software stock in April, has been on a recovery since it fell to a low of 50.5 sen on Aug 24.

From Aug 24, the share price has surged 92% to 97 sen at today's close. The current price gives it a market capitalisation of RM542.21 million.

This is the fourth time since January that the counter has received an UMA query by Bursa. The last UMA it received was on June 16.

In the UMA query today, Bursa asked IFCA if there was any corporate development, business negotiation rumour, or report or any other possible explanation that could account for the hike in share price and volume.

IFCA's net profit for the second quarter ended June 30, 2015 (2QFY15) came in 89.7% higher at RM5.7 million or 1.02 sen per share, compared RM3 million or 0.67 sen per share in the same period a year ago.

Its revenue was also up by 30.8% at RM23.88 million from RM18.25 million previously.

(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.)
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