NOVAMSC: It provides software services for the government and healthcare sectors such as OCTANS – which supports government organizations in controlling and managing land planning and development.
Its financial performance appears unexciting with annual turnover hovering between rm22 million and rm33 million since FY March 2014.
Nova fell into the red in FY2010 with net loss of rm4.4 million, which widened slightly to rm4.6 million before returning to black in FY2014 with a net profit of rm726491. Nevertheless, stripping out a writeback of impairment loss for intangibles of rm0.9 million would tip the company back to being loss making for Y2014.
1QFY2015 saw a turnover increasing 5% to rm8.7 million which increased net profit by 23% to rm449000.
Its order book as at 30 June 2014 was almost double that of the immediate preceding quarter at rm46.8 million.
It had announced a private placement of up to 20% of its shares at 13.8 sen per share with proceeds to fund the company’s working capital requirements. The company has identified Raden Corp, a company linked to Tunku Dato Seri Nadzaruddin – a director and substantial shareholder of Nova as a placee of up to a 10% stake.
At rm0.15, it is trading at 1.875 times book value with a 12 month trailing PER of 59 times.
Net debt stood at 0.6 million as at June 30 2014 with a low 2.8% net gearing ratio.
Its financial performance appears unexciting with annual turnover hovering between rm22 million and rm33 million since FY March 2014.
Nova fell into the red in FY2010 with net loss of rm4.4 million, which widened slightly to rm4.6 million before returning to black in FY2014 with a net profit of rm726491. Nevertheless, stripping out a writeback of impairment loss for intangibles of rm0.9 million would tip the company back to being loss making for Y2014.
1QFY2015 saw a turnover increasing 5% to rm8.7 million which increased net profit by 23% to rm449000.
Its order book as at 30 June 2014 was almost double that of the immediate preceding quarter at rm46.8 million.
It had announced a private placement of up to 20% of its shares at 13.8 sen per share with proceeds to fund the company’s working capital requirements. The company has identified Raden Corp, a company linked to Tunku Dato Seri Nadzaruddin – a director and substantial shareholder of Nova as a placee of up to a 10% stake.
At rm0.15, it is trading at 1.875 times book value with a 12 month trailing PER of 59 times.
Net debt stood at 0.6 million as at June 30 2014 with a low 2.8% net gearing ratio.
