NEXGRAM (0096) - Nexgram banks on Godynamic's foray into Indonesian mobile security market
April 22, 2015 : 7:44 PM MYT
KUALA LUMPUR (April 22): Nexgram Holdings Bhd is looking to bank on Godynamic Investments Ltd’s foray into the Indonesian mobile security industry.
Nexgram unit, Nextnation Network Sdn Bhd, had proposed on Monday (April 20) to acquire an 18.6% stake in Godynamic for RM18.53 million, thereby increasing its stake in Godynamic to 69.6% from the current 51%.
In reply to a query from Bursa Malaysia, Nexgram (fundamental: 2.1; valuation: 1.7) said Godynamic’s prospect hinges on its recent venture into the Indonesian mobile security industry within the Technology, Media and Telecommunications (TMT) sector.
“Various market research reports have indicated that the mobile security industry has become one of the key growth drivers,” the filing read.
“Indonesia appears to be one of the key markets, thanks to its growing mobile users.”
Nexgram also said the valuation of the purchase conducted by Salihin Capital Sdn Bhd is based on the discounted cash flow method.
“The indicative fair value range ascribed by Salihin Capital on the Sale Shares is between RM18.501 million and RM21.432 million,” the filing stated.
Nexgram shares closed unchanged at 12 sen, with a market capitalisation of RM225.89 million.
http://www.theedgemarkets.com
April 22, 2015 : 7:44 PM MYT
KUALA LUMPUR (April 22): Nexgram Holdings Bhd is looking to bank on Godynamic Investments Ltd’s foray into the Indonesian mobile security industry.
Nexgram unit, Nextnation Network Sdn Bhd, had proposed on Monday (April 20) to acquire an 18.6% stake in Godynamic for RM18.53 million, thereby increasing its stake in Godynamic to 69.6% from the current 51%.
In reply to a query from Bursa Malaysia, Nexgram (fundamental: 2.1; valuation: 1.7) said Godynamic’s prospect hinges on its recent venture into the Indonesian mobile security industry within the Technology, Media and Telecommunications (TMT) sector.
“Various market research reports have indicated that the mobile security industry has become one of the key growth drivers,” the filing read.
“Indonesia appears to be one of the key markets, thanks to its growing mobile users.”
Nexgram also said the valuation of the purchase conducted by Salihin Capital Sdn Bhd is based on the discounted cash flow method.
“The indicative fair value range ascribed by Salihin Capital on the Sale Shares is between RM18.501 million and RM21.432 million,” the filing stated.
Nexgram shares closed unchanged at 12 sen, with a market capitalisation of RM225.89 million.
http://www.theedgemarkets.com
