SMTRACK BHD (-ve)
SMTrack’s (Fundamental: 1.95/3, Valuation: 0/3) shares have been on a tear since mid-April — surging from 6.5 sen to 14 sen yesterday, for a cumulative gain of 115%. Volume traded averaged 11.7 million shares so far this month, 12.8 times the average trading volume of 917,149 shares over the past 200 days.
There appear no significant developments save for an announcement on February 12. SMTrack entered into an agreement with Sino Renewable Energy Corporation (China) to source, transport and track, up to 5,000 metric tons of palm acid oil per month from Southeast Asia to China.
Last Monday, the company obtained the approval from the Companies Commission of Malaysia for an extension of time, up to 26 August 2015, to hold its Annual General Meeting for FYMarch2015 (change in FYSept2014 to FYMar2015).
SMTrack provides track and trace solutions, using Radio-Frequency Identification (RFID) technology, to ensure visibility and security of goods.
This article first appeared in The Edge Financial Daily, on May 14, 2015.