"KUALA LUMPUR: Orion IXL Bhd, an information technology (IT) company formerly known as CWorks Systems Bhd, is proposing to acquire its rival, ASAP Bhd, for RM73mil.
The company said it would pay RM39mil cash and issue new rights shares that came with free detachable warrants to complete the deal.
The rights shares, to be subscribed by the owners of ASAP, will be issued at 18 sen each.
“As both the Orion Group and ASAP provide solutions of similar nature, the proposed acquisition will allow the group and ASAP to explore the potential of harnessing each other’s technology, expertise and client base,” it said in a filing with Bursa Malaysia on Monday.
ASAP has given a RM7.5mil profit guarantee a year, or a RM15mil cumulative profit after tax for two years. The Orion Group is principally involved in the provision of computerised maintenance management systems.
It also provides other IT services such as systems integration, support services and training.
Its clients include companies involved in facility management, manufacturing, oil and gas, airports, mining, healthcare, education, municipalities and other activities."
Very likely to push up Orion more to sweeten the deal since ASAP shareholders will subscribe at 0.18.
i have tracked this counter since Oct16. it has steadily gone up since then and follow its fundamental and technical. this counter is not a one-day speculative stock that has been systematically traded for the past few weeks.
This courter always profit taking pull back at last the shadow candle stick show on chart .... This courter buy sell buy sell in out in out u can make money : )
Looking at the chart, I think next week until month end, will be interesting. If the market is bullish again this counter will spike up. Don't buy and sell..... ride with it upwards and enjoy the new price.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
lextcs
1,961 posts
Posted by lextcs > 2017-03-23 11:09 | Report Abuse
ini orion connected to jibkor brother nazir