Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on November 4, 2015.

 

Focus Dynamics Technologies Bhd (+ve)

FOCUS Dynamics (Fundamental: 1.05/3, Valuation: 0.3/3) surged 13.3% to close at 8.5 sen yesterday. Approximately 72.9 million shares changed hands — 22 times its past 200-day average volume of 3.3 million shares.

Focus Dynamics provides energy efficiency systems and services (engineering services) and operates food and beverage (F&B) outlets. Last year, it successfully raised RM35.3 million from a 3-for-3 renounceable rights issue with 2-for-3 free warrants, of which RM25.9 million will be used to expand its F&B business. 

For 1H2015, revenue fell 24.3% y-y to RM4.4 million, owing to lower contribution from the engineering services segment. Net loss, however, widened to RM7.1 million from RM2.8 million in 1H2014, due mainly to equity settled share based payment (ESOS options) totalling RM2.8 million. 

On September 10, the company proposed a par value reduction from 10 sen to 5 sen per share, with the aim of eliminating its company-level accumulated losses of RM6.4 million at end-June.

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