Stock With Momentum: Managepay Systems

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This article first appeared in The Edge Financial Daily, on March 22, 2017.

 

Managepay Systems Bhd (+ve)
SHARES in Managepay Systems Bhd (fundamental: 0.6/3, valuation: 0.3/3), which triggered our Stocks with Momentum algorithm yesterday for the second time this year, closed up 10.64% or 2.5 sen at 26 sen.

The counter saw 122.54 million shares traded, compared to its 200-day average of 2.39 million shares.

Managepay is a Multimedia Super Corridor-status company that offers electronic payment solutions and loyalty management services to business enterprises.

The financial technology player recently announced it intended to take up controlling stakes in two sports management companies for RM740,000 in total, as it was planning to roll out a mobile application for sports facilities and equipment.

Managepay is currently trading at 1.86 times its net book value.