NETX (0020) - Stocks With Momentum: NETX
Mar 9, 2015
NETX Holdings Bhd (-ve)
WHILST NETX’s (Fundamental: 1.65/3, Valuation: 0.6/3) share price remained range bound, the counter was actively traded, with volume tripling to over 44 million shares last Friday.
The company, formerly known as Ariantec Global Bhd ( Financial Dashboard), is principally involved in research and development of software systems, and providing information technology services.
NetX went through a rough period over the last 2 years. Revenue plunged to just RM2.8 million in 2012, from RM36.1 million due to delay in securing new projects. Revenue recovered slightly to RM5.1 million over an 18-month period ending FYJune2014. Net loss was reduced from RM15.5 million in 2013 to RM5.8 million. Over this period, NetX replaced its whole board of directors twice.
In October 2014, Netx proposed a rights issue where proceeds would be used to acquire Springworks Sdn Bhd. However, in February 2015, it called off the acquisition but will proceed with the fund raising exercise.
http://www.theedgemarkets.com/my/article/stocks-momentum-netx
Mar 9, 2015
NETX Holdings Bhd (-ve)
WHILST NETX’s (Fundamental: 1.65/3, Valuation: 0.6/3) share price remained range bound, the counter was actively traded, with volume tripling to over 44 million shares last Friday.
The company, formerly known as Ariantec Global Bhd ( Financial Dashboard), is principally involved in research and development of software systems, and providing information technology services.
NetX went through a rough period over the last 2 years. Revenue plunged to just RM2.8 million in 2012, from RM36.1 million due to delay in securing new projects. Revenue recovered slightly to RM5.1 million over an 18-month period ending FYJune2014. Net loss was reduced from RM15.5 million in 2013 to RM5.8 million. Over this period, NetX replaced its whole board of directors twice.
In October 2014, Netx proposed a rights issue where proceeds would be used to acquire Springworks Sdn Bhd. However, in February 2015, it called off the acquisition but will proceed with the fund raising exercise.
http://www.theedgemarkets.com/my/article/stocks-momentum-netx
