Stock With Momentum: MLabs Systems

This article first appeared in The Edge Financial Daily, on July 18, 2017.
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MLabs Systems Bhd (-ve)

SHARES in MLabs Systems Bhd (fundamental: 1.85/3, valuation: 0/3) closed 8.5 sen or 20.99% lower at 32 sen yesterday, giving it a market capitalisation of RM59.8 million.

The counter was heavily traded with some 52.65 million shares done, equivalent to 39.51% of its share capital, which was way above its 200-day average volume of 18.26 million shares.

MLabs, a multimedia conferencing system software developer, saw its share price hit a record of 46.5 sen last Friday.

It has recently announced a collaboration with Singapore’s e-horizon Asia Pte Ltd to distribute its multimedia videoconferencing and mobile application products.