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Stocks With Momentum: Scan Associates
by Cals Tue 31 Mar 2015, 21:57
Stocks With Momentum: Scan Associates
By theedgemarkets.com / theedgemarkets.com | March 31, 2015 : 11:06 AM MYT
[size=14]Scan Associates Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
SCAN Associates Bhd (Fundamental: 0/3, Valuation: 0.3/3) was ‘Red Flagged’ by the system, suggesting that investors should be cautious while trading given its low valuation and fundamental scores.
Usually thinly traded, the stock saw a surge in volume from 942,700 shares on Friday, to 26.8 million yesterday. Scan added 4% to close at 13 sen, well above its book value of 3 sen as at end-2014. Scan has been loss making for the last 4 years. Net losses widened by 70% to RM 7.1 million in FY2014, while revenue more than halved to RM 11.8 million.
To add to its financial woes, the company’s Chief Technology Officer resigned in November 2014, followed by its co- founder in March 2015. Last week, the Executive Director and major shareholder who held a 15.19% stake as of the last annual report pared down his stake to just 6.19%. The company is also in a material litigation with its former CEO for unjust dismissal.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 31, 2015.
[/size]
By theedgemarkets.com / theedgemarkets.com | March 31, 2015 : 11:06 AM MYT
[size=14]Scan Associates Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
SCAN Associates Bhd (Fundamental: 0/3, Valuation: 0.3/3) was ‘Red Flagged’ by the system, suggesting that investors should be cautious while trading given its low valuation and fundamental scores.
Usually thinly traded, the stock saw a surge in volume from 942,700 shares on Friday, to 26.8 million yesterday. Scan added 4% to close at 13 sen, well above its book value of 3 sen as at end-2014. Scan has been loss making for the last 4 years. Net losses widened by 70% to RM 7.1 million in FY2014, while revenue more than halved to RM 11.8 million.
To add to its financial woes, the company’s Chief Technology Officer resigned in November 2014, followed by its co- founder in March 2015. Last week, the Executive Director and major shareholder who held a 15.19% stake as of the last annual report pared down his stake to just 6.19%. The company is also in a material litigation with its former CEO for unjust dismissal.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 31, 2015.
[/size]
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