Stock With Momentum: Censof Holdings

This article first appeared in The Edge Financial Daily, on November 5, 2019.
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Censof Holdings Bhd (+ve)
TRADING of shares in Censof Holdings Bhd (fundamental: 0.55/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The stock closed one sen or 7.69% higher at 14 sen, with 4.66 million shares done, compared with its 200-day average volume of 333,712 shares.

The company provides financial management and asset management solutions, as well as e-payment gateway services. On Oct 2, it bagged a RM34.77 million contract from the Inland Revenue Board of Malaysia (IRB) to install licence renewal, software support and maintenance services for data warehouse systems.

Censof said its wholly-owned subsidiary Century Software (Malaysia) Sdn Bhd accepted a letter of award from the IRB on Oct 1 for the project. The contract’s tenure is from Jan 1, 2020 to Dec 31, 2022.