Takaso in talks over several joint ventures, acquisition of a firm

by **Cals** Wed 08 Apr 2015, 20:25

Takaso in talks over several joint ventures, acquisition of a firm

By Sulhi Azman / theedgemarkets.com | April 8, 2015 : 2:45 PM MYT

KUALA LUMPUR (Apr 8): [size=14]Takaso Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) said it is in the midst of discussions relating to several possible joint venture projects and the possible acquisition of a company.

However, the discussions have not been finalise at this juncture, said the condom and baby care manufacturer.

"The group will make the necessary announcement(s) in compliance with its obligations under the Main Market Listing Requirements of Bursa Securities once any of these have been finalised," it said in a filing with Bursa Malaysia today.

Takaso also said it is are unaware of any corporate development, rumour or report relating to the group’s business and affairs that may account for yesterday's sharp rise in volume of its shares.

Takaso (fundamental: 1.65; valuation: 0.3) was slapped with an unusual market activity query by Bursa Malaysia yesterday on the rise in volume of its shares, which saw some 61.58 million units changing hands compared with some 2.92 million units traded the previous day (April 6).

According to data from Bloomberg, Takaso’s shares have risen by 33.64% from 53.5 sen on Jan 20, 2015 to 71.5 sen on Jan 23. Since then, its shares have fallen 23.08% to close at 55 sen yesterday.

At noon break today, Takaso’s shares were traded 1.5 sen or 2.73% lower at 53.5 sen, with 9.92 million units done, giving it a market capitalisation of RM110.13 million.

Takaso recently received nod from its shareholders to enter into related party transactions, which would result in diversification of its business to construction activity that is expected to contribute 25% or more to its future net profit.

The group has been in the red since its financial year 2006. For the six months ended Jan 31, 2015, Takaso posted a net loss of RM1.2 million on revenue of RM18.52 million.

(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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