Eduspec Holdings Berhad (+ve)
THE share price of ACE market-listed Eduspec (Fundamental: 3/3; Valuation: 1.2/3) has jumped over 30% in the past month, reaching to an all-time high of 34.5 sen last week before closing at 33.5 sen yesterday.

On Monday, the ICT education services provider proposed a 10% stake private placement to raise between RM23.75 million to RM35.35 million for expansion and working capital purposes.

Last July, Eduspec entered into an agreement with iCarnegie to be an exclusive distributor of the latter’s products in Malaysia, Singapore, Indonesia, Vietnam, Thailand, Myanmar and Philippines for a minimum aggregate fee of US$21 million over five years.

In 2013, Eduspec had raised RM35.5 million from private placement and rights issue. It currently has net cash of RM16.5 million. For FYSep2014, net profit soared 537% y-o-y to RM6.4 million on the back of revenue of RM58.8 million.

The stock trades at a trailing 12-month P/E of 33.8 times and 3.9 times its book. No dividend was declared for the past five years.

This article first appeared in The Edge Financial Daily, on February 18, 2015.