OMEDIA (0018) - Stocks With Momentum: Oriented Media
March 12, 2015 : 10:34 AM MYT
Oriented Media Group Bhd (-ve)
THE usually illiquid shares for Oriented Media Group (Fundamental: 0.6/3, Valuation: 0.3/3) saw a sharp surge in volume yesterday. Its share price has gained 25% in the first three trading days of this week, closing at 17.5 sen.
The company is involved in the provision of information technology related products and services. It recently announced a fund raising exercise on the basis of 4 rights shares with 3 free warrants for every 2 shares held. About half of the proceeds, of up to RM42.6 million, will be channeled to expand its web based business, through the setting up of an online sportswear trading platform in China. The remaining half will be used for marketing expenses and working capital purposes.
Omedia has been loss making for the last 5 years. Revenue is stable around RM1-1.4 million between FY2011-FY2014, but losses increased from RM1.3 million to RM3.68 million over this period.
http://www.theedgemarkets.com
March 12, 2015 : 10:34 AM MYT
Oriented Media Group Bhd (-ve)
THE usually illiquid shares for Oriented Media Group (Fundamental: 0.6/3, Valuation: 0.3/3) saw a sharp surge in volume yesterday. Its share price has gained 25% in the first three trading days of this week, closing at 17.5 sen.
The company is involved in the provision of information technology related products and services. It recently announced a fund raising exercise on the basis of 4 rights shares with 3 free warrants for every 2 shares held. About half of the proceeds, of up to RM42.6 million, will be channeled to expand its web based business, through the setting up of an online sportswear trading platform in China. The remaining half will be used for marketing expenses and working capital purposes.
Omedia has been loss making for the last 5 years. Revenue is stable around RM1-1.4 million between FY2011-FY2014, but losses increased from RM1.3 million to RM3.68 million over this period.
http://www.theedgemarkets.com
