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Stocks With Momentum: VSolar Group
by Cals Tue 04 Nov 2014, 01:23
Stocks With Momentum: VSolar Group
VSolar Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)
OVER the last two weeks, VSolar Group’s share price has surged by 58.3% to close at 19 sen. There may be two catalysts for the rally. One is the entry of ACE-listed AsiaBioenergy Technologies as a substantial shareholder with a 10.47% stake. The second is its foray into solar energy.
Previously known as Fast Track Solution Holdings, VSolar has diversified into the solar energy industry and signed a 21-year renewable energy power purchase agreement with Tenaga Nasional ([You must be registered and logged in to see this image.] Financial Dashboard) in Aug 2013.
Prior to the change, VSolar has been in the red since 2010, with losses widening since 2011 to RM2 million in 2013. Revenue and profitability declined further in 1H14 — perhaps indicating that benefits of its new business direction have not kicked in yet. The stock is trading at high valuations of 3.5x book, likely due to its small asset base. The company has net cash of RM3.6 million as at 30 June 2014.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on November 3, 2014.
VSolar Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)
OVER the last two weeks, VSolar Group’s share price has surged by 58.3% to close at 19 sen. There may be two catalysts for the rally. One is the entry of ACE-listed AsiaBioenergy Technologies as a substantial shareholder with a 10.47% stake. The second is its foray into solar energy.
Previously known as Fast Track Solution Holdings, VSolar has diversified into the solar energy industry and signed a 21-year renewable energy power purchase agreement with Tenaga Nasional ([You must be registered and logged in to see this image.] Financial Dashboard) in Aug 2013.
Prior to the change, VSolar has been in the red since 2010, with losses widening since 2011 to RM2 million in 2013. Revenue and profitability declined further in 1H14 — perhaps indicating that benefits of its new business direction have not kicked in yet. The stock is trading at high valuations of 3.5x book, likely due to its small asset base. The company has net cash of RM3.6 million as at 30 June 2014.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on November 3, 2014.
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