This article first appeared in The Edge Financial Daily on April 21, 2017

Key Asic Bhd (-ve)

SHARES in Key Asic Bhd (fundamental: 1.55/3, valuation: 0/3) triggered our proprietary momentum algorithm yesterday. The counter closed 0.5 sen or 3.45% higher at 15 sen.

The stock saw some 9.48 million shares traded, exceeding its 200-day average volume of 1.02 million shares.

The company provides high-performance, low-power application-specific integrated circuit (Asic) design and manufacturing services for consumer, wireless and personal electronic applications.

On April 3, Key Asic partnered with a China-based wafer fabrication foundry, Shanghai Huali Microelectronics Corp (HLMC), to jointly develop, produce, test and market its solutions in Japan and China.

Both parties will jointly develop a total solution offering ranging from IP development, Asic design services, wafer production, test development and packaging to fabless Asic system on chip and system design companies.

At the current share price, Key Asic is trading at 7.04 times its book value.