This article first appeared in The Edge Financial Daily on February 26, 2020

Omesti Bhd (-ve)
TRADING of shares in Omesti Bhd (fundamental: 1.3/3, valuation: 0.3/3), which triggered our momentum algorithm yesterday for the seventh time this year, closed seven sen or 11.48% higher at 68 sen.

It saw 40.76 million shares traded, more than its 200-day average volume of 817,725 shares.

Yesterday, Omesti said it had been appointed, by Huawei Technologies Co Ltd, an authorised system integration partner for its business support systems (BSS) designed for application with customer relationship management and billing activities, primarily in the telecommunications sector.

“With this appointment, we have joined the select ranks of the world’s Tier 1 implementers. This is much more than a simple teaming agreement or memorandum of understanding. Under the partnership, we are authorised to work directly with clients to configure and implement BSS solutions,” Omesti executive director Chia Yong Wei said.