This article first appeared in The Edge Financial Daily on October 6, 2017
Efficient E-Solutions Bhd (-ve)
SHARES in Efficient E-Solutions Bhd (fundamental: 0.6, valuation: 0.3), which triggered our algorithm yesterday for the third time this year, rose 3.5 sen or 9.21% to settle at 41.5 sen. It saw 28.1 million shares traded, near six times its 200-day average volume of 4.82 million shares.
Efficient’s net loss narrowed to RM382,000 in its second quarter ended June 30, 2017 from RM998,000 a year ago, on higher revenue from IT services and records management, fair value gain from other investment, and lower administrative expenses. Revenue grew 9.6% to RM788,000 from RM719,000.
Going forward, it is looking at new business opportunities to compliment its business process outsourcing-IT business.
On Oct 3, Efficient entered into a non-binding letter of intent to acquire majority interest in Kaapagam Technologies Sdn Bhd, an IT and cybersecurity product developer. The proposed acquisition is expected to complement its existing business portfolio.