Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 4): Eduspec Holdings Bhd rose as much as 13% after The Edge Malaysia business and investment weekly (Edge Weekly) highlighted that overseas expansion would drive the company's growth.

ICT education services provider Eduspec (fundamental: 3; valuation: 1.2) rose as much as four sen to 34 sen before reducing gains.

At 12:30pm, Eduspec settled at 32.5 sen with some 36 million shares exchanging hands. The stock was the seventh most-active entity on the exchange.

Eduspec's share price compared to its latest reported net assets of 9.2 sen a share.

Edge Weekly, in its latest February 2-8 issue, quoted Eduspec chief executive officer Lim Een Hong as saying the company was confident of sustained growth as its overseas expansion was starting to bear fruit.

“We are confident of our expansion overseas. We have pockets of product development that we started two to three years ago that will see results in 2015,” said Lim.

Since 2010, Eduspec has shifted its strategy by extending its reach into overseas markets, notably Indonesia, the Philippines and Vietnam.

Edge Weekly reported that Eduspec was now exploring growth opportunities in Thailand and Myanmar.

Eduspec's financials have improved significantly. The company reported a huge jump in net profit at RM7.17 million for the fourth quarter ended September 30, 2014 from RM1.33 million a year earlier.

Revenue more than doubled to RM29.06 million from RM11.75 million. Meanwhile, full-year net profit was higher at RM6.85 million versus RM854,000 a year earlier.

(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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