CWorks Systems sees 4.13% stake traded off market

CWorks Systems sees 4.13% stake traded off market
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KUALA LUMPUR (Sept 7): Software specialist CWorks Systems Bhd saw five million shares, equivalent to a 4.13% equity stake in the company, traded off market today at a total value of RM1.3 million.

According to Bloomberg data, CWorks’ (fundamental: 2.25; valuation: 0) shares changed hands in a single block at 26 sen per share.

It is not immediately known as to whom the parties involved in the transactions were.

CWorks’ net loss narrowed by 58% to 317,000 for the second quarter ended June 30, 2015, from its loss of RM752,000 in the previous year, on the back of a 16% rise in revenue to RM1.07 million, from RM922,000.

For the cumulative six-month period, net loss fell 43% to RM737,000, from RM1.29 million a year earlier; while revenue was 2% lower at RM1.72 million, from RM1.75 million.

Year-to-date, the counter has fallen 20.83%, underperforming the FBM KLCI’s 8.33% decline during the same period.

CWorks closed 0.5 sen or 2.7% higher at 19 sen, bringing its market capitalisation to RM22.4 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.)