Refering to our earlier sharing on ACCSOFT technical movements, we would like to share some of the key findings from its recent fundamental changes, hopefully it can benefit us!

At the end of last year, ACCSOFT did a right issue to expand its business, but not many aware of what is the impact or business they are going into, so below are the details of it:

OSTP stands for Online Sportswear Trading Platform, it is quite clear that their expansion is to develope a OSTP in China.

The directors are quite bold to admit they have been making losses for years, so now they going to make a change. This shows they have the intention to turn it around by applying these cost savings and business expansion plan. Their platform in China is expected to be launch in third quarter of 2016 and contribute positively to the company. Not only that, they are partnering with all those big guys in the industry, so below is their performance so far after their expansion.

As shown above, their revenue has shoot up in 3rd AND 4th Quarter 2016, this is exactly when their new business launched in China, obviously its a success so far, but in 4th quarter they are planning to do ESOS and that has offset their profit in 4th quarter 2016 to losses but actually its purely for accounting purpose only as explained as below:

ACCSOFT has became a whole new company after it tap into China E-commerce industry, it has made RM4.43m in just two quarters which it had never done so, this is a more than 100% improvement compare to last year result. With such a high growth, market is willing give it a high PE, will it grow bigger and faster with its Alibaba like business model in China??? With such a good start, we believe its possible!!!

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“Markets are never wrong – opinions often are.”

– Jesse Livermore