Stock With Momentum: Mexter Technology
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Stock With Momentum: Mexter Technology
Stock With Momentum: Mexter Technology
By Asia Analytica / The Edge Financial Daily | May 30, 2016 : 10:32 AM MYTThis article first appeared in The Edge Financial Daily, on May 30, 2016.
Mexter Technology Bhd (+ve)
SHARES in Mexter Technology Bhd (fundamental: 0.95/3, valuation: 0.3/3) triggered our momentum algorithm for the first time this year. The counter closed up 5.5 sen or 78.6% higher at 12.5 sen last Friday, with 23.25 million shares traded. This was higher than its 200-day average volume of 221,652 shares.
The company focuses on helping high-volume discrete and hybrid manufacturers efficiently operate their production assets. Its business divisions include e-manufacturing, computing and electronics, enterprise and mobile services.
For the first financial quarter ended March 31, 2016, Mexter posted a net profit of RM60,000 on a revenue of RM11.2 million. The group has recently changed its financial year end to March 31, 2017 from Dec 31, 2016 previously.
Last Friday, its managing director Ivan Sia Teck Fatt sold about 10 million Mexter shares, representing a 5.1% stake at 15 sen per share through an off-market transaction. After the disposal, he now has some 11.22 million shares, representing a 5.7% stake.
On the same day, Mexter non-executive director Kuan Khian Leng ceased to be the largest shareholder of the company after disposing of 51.55 million shares, or a 26.2% stake, at 15 sen per share through an off-market deal.
At its current share price, Mexter is trading at 2.5 times its book value.
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