KUALA LUMPUR (Feb 18): "Stock With Momentum" tagged Eduspec Holdings Bhd rose 1.5 sen or 4.48% to 35 sen with 5.84 million shares done as at 9.48am.
It was the seventh most actively traded stock on the local bourse.
The Edge Financial Daily had tagged the stock (fundamental: 3.3; valuation: 1.2) as having momentum after its share price jumped 30 percent in the past month, reaching an all-time high of 34.5 sen last week.
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 fee of US$21 million over five years.
The company currently has a net cash of RM16.5 million and for financial year September 2014, net profit increased 537% year-on-year to RM6.4 million on the back of RM58.8 million in revenue.
Stocks with Momentum is an analysis conducted by Asia Analytica Sdn Bhd on the fundamentals of stocks using propriety algorithm devised by Anticipatory Analytics Sdn Bhd.
(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.)