Hot Stock Datasonic actively traded as it secures contract worth RM318 mil

by **Cals** Wed 16 Dec 2015, 01:35

Hot Stock

[size=28]Datasonic actively traded as it secures contract worth RM318 mil

By Yimie Yong / theedgemarkets.com | December 15, 2015 : 4:43 PM MYT
KUALA LUMPUR (Dec 15): Shares of Datasonic Group Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.75) were actively-traded and rose as much as 12.5% or 19 sen on Bursa Malaysia today, after it announced it had bagged a RM318.75 million contract from the Home Ministry (KDN ) for the supply of Malaysian passport chips.

The counter reached an intra-day high of RM1.71.

At 4.07pm, Datasonic pared down some gains to trade at RM1.57, up 5 sen or 3.29% from yesterday's closing price, with some 20.28 million shares exchanging hands. Its market capitalisation stood at RM2.12 billion. The counter was the sixth most actively-traded on local bourse today.

Trading in Datasonic’s shares and its warrants has been halted from 2.40pm. Trading in the securities resumed from 3.40pm.

Earlier, Datasonic told Bursa Malaysia that it had received a letter of award from KDN to supply Malaysian passport chips for five years or 12.5 million of passport chips, starting from Dec 1, 2016 to Nov 30, 2021.

(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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