Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on November 12, 2015.

 

CWorks Systems Bhd (-ve)

ACE-market listed CWorks (Fundamental: 2.25/3, Valuation: 0/3) rose 19.1% to close at 28 sen yesterday. Some 3.3 million shares changed hands, compared to its average 200-day volume of 121,830 shares. 

Notably, the company saw several shareholding changes in the last few months.  

In the latest announcement on October 1, Roaring Achievements Sdn Bhd has ceased to be a substantial shareholder, after disposing of 7 million shares or 5.8% stake in off market trades. 

However, the buyers of the block were unknown, at the time of writing.

On June 2, Azmi Zainudin emerged as a new single largest shareholder of CWorks after acquiring a 16.53% stake, via off-market transaction. 

A maintenance management software specialist, the company’s Computerised Maintenance Management Software (CMMS) product is used in asset intensive organisations, including in facility management, airports, and oil and gas.

For 1H2015, revenue declined 1.6% y-y to RM1.7 million while net loss narrowed to RM737,000, from RM1.3 million a year ago.

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