INGENCO (0034) - Stocks With Momentum: Ingenuity
March 30, 2015 : 10:32 AM MYT
Ingenuity Consolidated Bhd (+ve)
INGENUITY (Fundamental: 0.95/3, Valuation: 0.9/3) provides business software solutions, system integration services, IT and telecommunication products distribution services.
The company’s revenue jumped to RM553.6 million in FYMarch2013 from RM63.9 million in FY2012, following the acquisition of VistaVision Resources Sdn Bhd, a distributor for IT and telecommunication products.
For 9MFY15, Ingenuity recorded a cumulative pre-tax loss of RM13.4 million as compared to pre-tax profit of RM0.66 million in the previous corresponding period. This was due to slower sales and disposal of slow-moving inventories in 2QFY15 by its ICT distribution segment.
The company proposed a private placement exercise of up to 10% of its issued shares, which will raise gross proceeds of up to RM12 million according to its announcement. The placement is yet to be carried out after several extensions. Ingenuity has applied to Bursa Securities for a further one-month extension to 18 April 2015 to complete the exercise.
This article first appeared in The Edge Financial Daily, on March 30, 2015.
http://www.theedgemarkets.com
March 30, 2015 : 10:32 AM MYT
Ingenuity Consolidated Bhd (+ve)
INGENUITY (Fundamental: 0.95/3, Valuation: 0.9/3) provides business software solutions, system integration services, IT and telecommunication products distribution services.
The company’s revenue jumped to RM553.6 million in FYMarch2013 from RM63.9 million in FY2012, following the acquisition of VistaVision Resources Sdn Bhd, a distributor for IT and telecommunication products.
For 9MFY15, Ingenuity recorded a cumulative pre-tax loss of RM13.4 million as compared to pre-tax profit of RM0.66 million in the previous corresponding period. This was due to slower sales and disposal of slow-moving inventories in 2QFY15 by its ICT distribution segment.
The company proposed a private placement exercise of up to 10% of its issued shares, which will raise gross proceeds of up to RM12 million according to its announcement. The placement is yet to be carried out after several extensions. Ingenuity has applied to Bursa Securities for a further one-month extension to 18 April 2015 to complete the exercise.
This article first appeared in The Edge Financial Daily, on March 30, 2015.
http://www.theedgemarkets.com
