This article first appeared in The Edge Financial Daily, on May 26, 2016.
MNC Wireless Bhd (+ve)
SHARES in MNC Wireless Bhd (fundamental: 1.95/3; valuation: 0/3) triggered our momentum algorithm for the first time, with 3.41 million shares traded yesterday, compared with its 200-day average volume of 373,771 shares. The counter jumped 3.5 sen or 15.56% to 26 sen yesterday. The loss-making mobile and digital solutions firm will announce its first-quarter financial results soon.
MNC Wireless’ net loss widened to RM1.28 million in the fourth financial quarter ended Dec 31, 2015 (4QFY15), from RM46,000 in 4QFY14, on higher taxation as its 10-year pioneer status exemption expired. Revenue declined 26.3% to RM4.77 million from RM6.47 million, on lower contribution from volume of wireless/mobile contents and services.
For the full year, its net loss widened to RM413,000 from a net loss of RM344,000 in FY14 despite a growth in revenue. Revenue grew 8.34% to RM20.26 million from RM18.7 million.
MNC Wireless currently trades at 4.9 times its book value.
MNC (0103), 0103 - Stock With Momentum: MNC Wireless
http://www.theedgemarkets.com/my/article/stock-momentum-mnc-wireless?type=Stock%20with%20Momentum
