mTouche Technology Bhd (+ve)
SHARES in mTouche Technology Bhd (fundamental: 1.55/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the third time this year, closed 2.5 sen or 4% higher at 65 sen. The counter saw 6.35 million shares traded, compared with its 200-day average volume of 1.32 million shares.
Last week, the company announced it was teaming up with a software firm to jointly develop and market a digital media and infotainment platform for information technology and mobile channels.
The mobile services and digital media company said it had signed a master collaboration partnership with Advanced Platform Sdn Bhd to develop software-as-a-service and platform-as-a-service offerings.
The entertainment-related mobile platform, targeted at mTouche’s existing customers in Southeast Asian and Hong Kong markets, is expected to reach a critical mass of more than 10 million users within five years.