Hot Stock IFCA up by 3.1% as it secures RM3.3m contract in China

by **Cals** Sat 19 Sep 2015, 02:09

Hot Stock

[size=28]IFCA up by 3.1% as it secures RM3.3m contract in China

By Supriya Surendran / theedgemarkets.com | September 18, 2015 : 11:54 AM MYT

KUALA LUMPUR (Sept 18): IFCA MSC Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 3.00)’s shares were up by 2.5 sen or 3.1% this morning, on news the group has secured a RMB4.99million (RM3.34 million) contract from Capitaland Management (China) Co Ltd ( Valuation: 2.60, Fundamental: 1.00).

Yesterday (Sept 17), IFCA had announced the contract was secured through its wholly-owned subsidiary in China,Jingyou Information Technology (Shanghai) Co Ltd.

The contract, signed on Sept 7, was for the supply and installation of a project costing, planning and procurement system, and is expected to contribute positively to the company’s earnings per share and net asset per share for the current financial year ending Dec 31, 2015.

IFCA shares, which were trading at a high of RM1.82 on May 19 this year, closed down by RM 1 or 54.9% lower yesterday at 82 sen.

At 11.42 a.m. IFCA shares were trading at 83.5 sen, up 1.8% from its close yesterday, with 17.63 million shares traded and a market capitalisation of RM466.75 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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