Nexgram halves value over one week
revision, the company is likely to operate on a business-as-usual basis.
Currently, the stock trades at a price earnings ratio of 8.02 times.
Loss-making Nexgram Holdings Bhd also almost halved its value over the last one week.
The company is primarily involved in the information technology sector. Apart from that, it is also involved in the property development and logistics businesses.
In its first half ended January 31, Nexgram narrowed its net loss to RM6.23mil as compared to a loss of RM8.49mil a year earlier.
However, revenue-wise, it dropped to RM20.92mil from RM23.09mil in the previous corresponding period.
Nexgram has said earlier that it was discussing with potential customers from both government and non-government sectors, to provide security system and protection equipment.
As for its property development business, the group is currently in the preliminary stage of the long-delayed Angkasa Icon City development.
Previously, Nexgram initiated a joint-venture with Seychelles-incorporated China Asian Capital Holdings Ltd to develop the project, which has an estimated gross development value of RM1.15bil
However, the joint-venture was discontinued within barely seven months of forming the partnership. Currently, Nexgram is engaging its own project management team for the project.
Note that, Angkatan Koperasi Kebangsaan Malaysia Bhd is the sole purchaser of the Angkasa Icon City.
Excel Force MSC Bhd (Eforce) was the darling of investors last year as the stock surged by nearly 163%.
However, things have turned sour as this politically-linked counter dropped by 46% between May 8 and May 17, hitting a two-year low.
Eforce, a financial software player, is 22%-controlled by billionaire investor Wong Thean Soon, who is also the single largest shareholder in MyEG.
According to Eforce’s 2017 annual report, an individual by the name of Mohamed Nizam Abdul Razak owns a 8.06% stake in the company. Mohamed Nizam is the brother of former Prime Minister Datuk Seri Najib Tun Razak.
During Budget 2018 in October last year, Eforce caused excitement when the then government said it was planning to introduce the Alternative Trading System (ATS).
Some quarters saw Eforce as a beneficiary of this new trading bourse.
Barring its new businesses, Eforce is presently the market leader in Malaysia for the provision of financial services business solutions where it currently has 90% of the stock broking Public Gallery Display System and 70% of the electronic client ordering system market share in Malaysia.
In its financial year of 2017 (FY17), Eforce recorded a 12%-higher net profit at RM6.32mil. Revenue in the one-year period remained flattish at RM22.92mil as to RM22.47mil a year earlier.
Losing nearly 44% of its share value, Ahmad Zaki Resources Bhd (AZRB) was the fifth biggest loser in the May 8-17 period.
AZRB’s share price was battered largely due to its heavy exposure to the domestic construction sector.
In FY17, about 80% of its revenue came from its engineering and construction segment alone.
The mid-cap construction player is currently involved in the Mass Rapid Transit 2 project and is the developer of the East Klang Valley Expressway.
It is also involved in the substructure works for the development of Bukit Bintang City Centre.
As at end-2017, the group possessed an outstanding order book of RM3.8bil, slated to be completed within the next three to four years.
In its latest financial result filing with Bursa Malaysia, AZRB says that it will actively tender for more works including infrastructure projects, commercial buildings and government buildings.
“With future government undertakings such as the East Coast Rail Link, High Speed Rail and Mass Rapid Transit Line 3, the group intends to leverage on its position as a reputable builder of distinction to tap into the many opportunities on offer in the sector,” it says.