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Stock With Momentum: Mexter Technology

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Stock With Momentum: Mexter Technology

Post by Cals Wed 06 Jul 2016, 00:41

Stock With Momentum: Mexter Technology

By Asia Analytica / The Edge Financial Daily | July 5, 2016 : 10:55 AM MYT

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This article first appeared in The Edge Financial Daily, on July 5, 2016.

Mexter Technology Bhd (+ve)
SHARES in Mexter Technology Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm yesterday for the fifth time this year. The counter closed 1.5 sen or 8.1% higher at 20 sen yesterday, with 9.93 million shares traded, compared to its 200-day average volume of 1.12 million shares.
After three consecutive quarters of losses, Mexter reported a net profit of RM60,000, on revenue of RM11.2 million for the three months ended March 31, 2016, which the company attributed to higher sales from its mobile services division following stronger market demand.
Mexter has been in the news of late due to the emergence of businessman Lim Yin Chow as a substantial shareholder of the company on May 27. Lim, who is credited as the co-founder of HSC Medical Centre in Kuala Lumpur, is now Mexter’s largest shareholder with 55.85 million shares or a 28.4% stake.
At the current share price, Mexter, which is involved in computing and electronics, and enterprise and mobile services, besides the provision of automation solutions, is trading at four times its book value.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
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