Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on February 25, 2020

XOX Bhd (+ve)
TRADING of shares in XOX Bhd (fundamental: 0.95/3, valuation: 0.9/3) triggered our momentum algorithm for the first time yesterday since Aug 29, 2018.

The stock, which closed unchanged at five sen yesterday, saw trading volume surge to 65.48 million shares, 11 times its 200-day average of 5.51 million shares. It was the fifth most active counter on the stock exchange yesterday.

On Feb 17, XOX said its unit is partnering Advance Tech Communication Sdn Bhd (ATC), a 95%-owned unit of Australia-listed AdvanceTC Ltd, to launch 4G and 5G smartphones that will have additional satellite communication capabilities termed XPLORE.

The smartphone will be launched by ATC to XOX users, whereby XOX will be the first telecommunication service provider to market and distribute the products to its users across Southeast Asia.

XOX executive director Steve Tan said the company’s vision is to provide a unified network plan by integrating XOX’s prepaid plans and messaging platform with ATC’s extensive satellite emergency services.

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