Stock With Momentum: Opensys

This article first appeared in The Edge Financial Daily, on September 27, 2018.
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Opensys (M) Bhd (+ve)

Trading in shares of Opensys (M) Bhd (fundamental: 1.7/3; valuation: 2.4/3) triggered our momentum algorithm yesterday for the second time this year.

The stock closed up 1.5 sen or 4.84% to 32.5 sen, after 4.94 million shares were done, versus the counter’s 200-day average of 469,723 shares.

The group is primarily involved in the installation of cash recycling machines (CRMs), and controls close to 80% market share in Malaysia, with more than 2,600 machines installed to date.

CRMs are dual-function machines that merge the cash dispensing functions of ATMs and the cash deposit functions of CDMs.

On Sept 25, the group said it will be rolling out over 500 units of Japan’s OKI Cash Recycling ATMs (CRMs) at Public Bank, Bank Islam, RHB Bank and other major banks in the third quarter of 2018.