Technodex Bhd (Tdex)

[winston]

not vested

TDex hits four-month high on brisk trading volume

KUALA LUMPUR (Nov 11): Yesterday’s strong interest in Technodex Bhd (Tdex) ( Financial Dashboard) shares has spilled over to today with 36.9 million shares changing hands in the morning session so far, making it the third most actively traded stock on Bursa Malaysia as at 11.45am.

Tdex share price has risen 0.5 sen or about 2.2% to a four-month high of 24 sen.

The Ace Market-listed counter was featured as Stocks with Momentum by TheEdge Research.

According to TheEdge Research, Tdex has been subject to a number of corporate exercises, including buying several private companies and a proposed 10% private placement exercise to raise up to RM8.5 million.

TheEdge Research described the company’s profit margins as “erratic” after it posted net loss of RM430,000 for the financial year ended April 30, 2014.

“In 1Q15 (ended July 31), it has managed to return to the black with a modest net profit of RM89,000 on the back of RM3.7 million in revenue.”

The company has net cash position of RM6 million as at in 1Q2015 after it managed to slash its trade receivables by 64% to RM4.29 million at end-FY14, TheEdge Research noted.

However, the research outfit pointed out that Tdex’s pioneer status will expire in FY2015 and warned that Tdex has a “client concentration risk” as 80% of its trade receivables are from three customers.

Source: The Edge

[winston]

not vested

Trading volume picks up on Technodex again

PETALING JAYA (Nov 20): Trading volume on Technodex Bhd ( Financial Dashboard) is picking up again with the stock emerging among the top 10 most actively traded shortly after the opening bell today. As at 11.45 am, 8.66 million shares had changed hands.

Its share price, however, dropped one sen or 4% to 24 sen apiece.

Technodex was yesterday featured by The Edge Research as a stock with momentum, twice in the past 10 days.

The stock was first featured on Nov 10 after its surging volume lifted share price to a three-year high of 23 sen. Since Nov 10, its share price has traced to a low of 22.5 sen before rebounding on higher trading volume.

The stock hit an intra-day high of 25.5 sen before closing at 25 sen yesterday, with over 34.1 million shares changing hands.

The Edge Financial Daily reported today there was no overt catalyst for the renewed investors’ interest since Nov 10.

The company had announced a number of corporate exercises, which included acquiring stakes in several private companies including a proposed acquisition of a 55% stake in Idealseed Resources Sdn Bhd, an employment and consultancy services firm, for RM2.2 million.

Source: The Edge