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Stock With Momentum: Omesti
by Cals Wed 06 Jul 2016, 00:40
Stock With Momentum: Omesti
By Asia Analytica / The Edge Financial Daily | July 5, 2016 : 10:56 AM MYT- [You must be registered and logged in to see this image.]
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This article first appeared in The Edge Financial Daily, on July 5, 2016.
Omesti Bhd (+ve)
SHARES in Omesti Bhd (fundamental: 0.95/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The counter closed one sen or 2% higher at 50.5 sen yesterday, after some 1.75 million shares were exchanged.
Omesti is mainly involved in the distribution of information technology software and hardware. Formerly known as Formis Bhd, Omesti provides customised system integration of hardware platforms.
The company widened its net loss for the financial year ended March 31, 2016 to RM22.91 million, from RM139,000 a year ago, as its new businesses continued to weigh down the group’s financial performance with loss contributions totalling RM15.97 million.
Omesti’s largest shareholder is Datuk Mah Siew Kwok with a 22.8% stake. In January this year, the company secured phase two of the e-Courts court digitisation programme for technology enhancements to the court infrastructure of Peninsular Malaysia worth RM31 million.
The stock is currently trading at 0.73 times its book value.
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