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Hot Stock Inix slumps 7.14% on cautious outlook
by Cals Wed 30 Dec 2015, 01:05
Hot Stock
Inix slumps 7.14% on cautious outlook
By Surin Murugiah / theedgemarkets.com | December 29, 2015 : 9:49 AM MYT
KUALA LUMPUR (Dec 29): Shares of Information technology services provider Inix Technologies Holdings Bhd ([You must be registered and logged in to see this image.]Valuation: 0.00, Fundamental: 1.65) slumped 7.14% in early trade today after the company said it is being cautious about its new foray into the sand dredging and land reclamation business, and is focusing on delivering projects currently under its belt, rather than shoring up business.
At 9.27am, Inix fell 0.5 sen to 6.5 sen with 70,000 shares traded.
After the annual general meeting yesterday, Inix executive director Mohd Anuar Mohd Hanadzlah told pressmen that the company is focusing on delivering on its projects and is not currently bidding for any projects.
On March 16, Inix entered into a conditional share sale agreement with Galactic Yield Enterprises Ltd to acquire a 30% stake in Galactic Maritime (Malaysia) Sdn Bhd, a dredging and land reclamation services provider, for RM7.2 million, which has since been completed.
(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.)
Inix slumps 7.14% on cautious outlook
By Surin Murugiah / theedgemarkets.com | December 29, 2015 : 9:49 AM MYT
KUALA LUMPUR (Dec 29): Shares of Information technology services provider Inix Technologies Holdings Bhd ([You must be registered and logged in to see this image.]Valuation: 0.00, Fundamental: 1.65) slumped 7.14% in early trade today after the company said it is being cautious about its new foray into the sand dredging and land reclamation business, and is focusing on delivering projects currently under its belt, rather than shoring up business.
At 9.27am, Inix fell 0.5 sen to 6.5 sen with 70,000 shares traded.
After the annual general meeting yesterday, Inix executive director Mohd Anuar Mohd Hanadzlah told pressmen that the company is focusing on delivering on its projects and is not currently bidding for any projects.
On March 16, Inix entered into a conditional share sale agreement with Galactic Yield Enterprises Ltd to acquire a 30% stake in Galactic Maritime (Malaysia) Sdn Bhd, a dredging and land reclamation services provider, for RM7.2 million, which has since been completed.
(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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