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This article first appeared in The Edge Financial Daily on December 10, 2019

Microlink Solutions Bhd (-ve)

TRADING of shares in Microlink Solutions Bhd (fundamental: 0.95/3, valuation: 0/3), which pushed the stock 11 sen or 15.49% higher at its one-year high of 82 sen yesterday, triggered our momentum algorithm for the first time this year.

At the closing bell, Microlink recorded a total trading volume of 600,900 shares, 21 times its 200-day average trading volume of 27,943 shares.

On Oct 17, the software company proposed to place out some 16.74 million new shares, representing 10% of its total share capital of 167.37 million shares, to raise RM8.45 million.

Of that, RM5.07 million will be used to pay bank borrowings, RM3.1 million for the repayment of trade payables, while RM280,000 will be used to defray expenses associated with the placement.

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