MMS Ventures Bhd (-ve)
TRADING of shares in MMS Ventures Bhd (fundamental: 1.95/3, valuation: 1.5/3) triggered our momentum algorithm yesterday for the first time this year as well. The stock closed up three sen or 2.14% at RM1.43 with a market capitalisation of RM230.24 million. The counter saw 684,700 shares done, versus its 200-day average of 463,180.5 shares.
The group designs and manufactures industrial automation; it also designs precision die sets, jigs and fixtures.
Late last month, on announcing its 70% year-on-year fall in its net profit for the second quarter ended June 30, 2018, the group also said it was planning to undertake a bonus issue on the basis of one bonus share for every four existing shares held on an entitlement date to be fixed.
The company is also planning to establish an employees’ share option scheme involving up to 10% of the company’s total issued shares, on completion of the proposed bonus issue. It expects both proposals to be completed and implemented by the fourth quarter of this year.