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Stocks With Momentum: NetX
by Cals Sat 11 Apr 2015, 04:05
Stocks With Momentum: NetX
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By theedgemarkets.com / theedgemarkets.com | April 10, 2015 : 10:42 AM MYT
NetX Holdings Bhd (+ve)
NetX (Fundamental: 1.65/3, Valuation: 0.6/3), which has traded range bound between 6.5 and 7.5 sen in the last month, rose to a fresh year-high of 9 sen before retracing to close at 8 sen yesterday. Nearly 87 million shares changed hands or almost 14% of total shares issued. This followed the appointment of yet another new chairman and resignation of a non-executive director.
NetX has had a rough few years. Revenue plunged to just RM2.8 million in 2012, from RM36.1 million, before recovering slightly to RM5.1 million for an 18-month period ended June 2014. It was in the red through this period and had replaced its whole board of directors twice.
In October 2014, NetX proposed a rights issue to acquire [size=14]Springworks Sdn Bhd. The acquisition was called off in February but it will proceed with the fund raising exercise.
The company, formerly known as Ariantec Global Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), is principally involved in research and development of software systems, and providing information technology services.
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This article first appeared in The Edge Financial Daily, on April 10, 2015.
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By theedgemarkets.com / theedgemarkets.com | April 10, 2015 : 10:42 AM MYT
NetX Holdings Bhd (+ve)
NetX (Fundamental: 1.65/3, Valuation: 0.6/3), which has traded range bound between 6.5 and 7.5 sen in the last month, rose to a fresh year-high of 9 sen before retracing to close at 8 sen yesterday. Nearly 87 million shares changed hands or almost 14% of total shares issued. This followed the appointment of yet another new chairman and resignation of a non-executive director.
NetX has had a rough few years. Revenue plunged to just RM2.8 million in 2012, from RM36.1 million, before recovering slightly to RM5.1 million for an 18-month period ended June 2014. It was in the red through this period and had replaced its whole board of directors twice.
In October 2014, NetX proposed a rights issue to acquire [size=14]Springworks Sdn Bhd. The acquisition was called off in February but it will proceed with the fund raising exercise.
The company, formerly known as Ariantec Global Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), is principally involved in research and development of software systems, and providing information technology services.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on April 10, 2015.
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