Focus Point Holdings Bhd (-ve)
TRADING of shares in Focus Point Holdings Bhd (fundamental: 1.1/3, valuation: 1.4/3) triggered our momentum algorithm last Friday for the second time this month.
Focus Point closed down 1.5 sen or 2.83% to 51.5 sen, after 1.86 million shares were traded, versus the counter’s 200-day average volume of 234,484 shares. The group is the franchise holder for Focus Point optical shops.
Last Tuesday, Focus Point said it is planning a one-for-three bonus issue involving up to 55 million new shares, to enhance marketability and trading liquidity of its shares.
It said the proposed bonus issue will be issued as fully paid, on the basis of one bonus share for every three existing shares held, at an entitlement date to be fixed.
As of last Friday, Focus Point’s shares were trading at 1.43 times its net book value.