OpenSys (M) Bhd (-ve)
TRADING of shares in OpenSys (M) Bhd (fundamental: 1.7/3; valuation: 2.4/3), which triggered our momentum algorithm last Friday for the first time this year, pushed the stock up 0.5 sen or 1.6% to close at 31.5 sen.
The current price gives it a market capitalisation of RM93.84 million. The group saw 3.55 million shares traded last Friday, compared to its 200-day average of 432,294.5 shares.
The company is a solution provider for the financial services, telecommunications and utility industries.
OpenSys posted an 88% jump in net profit for the first financial quarter ended March 31, 2018 to RM1.9 million, from RM1 million a year ago — attributed to a stronger ringgit against foreign currencies — despite revenue falling 41.6% to RM17.23 million from RM29.52 million on a lower top line due to the roll-out of cash recycling machines.
OpenSys is currently trading at 1.83 times its book value.