https://theedgemalaysia.com/node/689104 KUALA LUMPUR (Nov 7): Edaran Bhd’s share price hit an 18-month high of 71 sen in Tuesday morning trade, after its unit Edaran IT Services Sdn Bhd won a contract to maintain the Royal Malaysian Customs Department’s operating system and MySST (Malaysia Sales & Services Tax) application worth RM89.88 million — which is almost three times the company’s market capitalisation based on its Monday (Nov 6)’s closing price.
At 9.50am, the stock pared some gains to settle at 68.5 sen, which is still 17 sen or 33.01% higher than 51.5 sen at the end of trading on Monday.
Based on its share price of 68.5 sen, its market capitalisation was RM40.70 million.
The counter was the second top gainer on Bursa Malaysia, as well as the seventh most active stock with 17.57 million shares traded — almost 300 times its 200-day trading average volume of 59,385.5 shares.
In a filing on Monday, Edaran said the contract, which was awarded by the Ministry of Finance, started on Sept 1 and will span a period of four years.
“Proceeds from the contract shall contribute towards the earnings of the group for the financial year ending June 30, 2024 (FY2024) until FY2027,” Edaran said.
For the fourth quarter ended June 30, 2023 (4QFY2023), the company’s net profit quadrupled to RM1.06 million from RM201,000 a year ago, on the back of a doubling in revenue to RM20.71 million from RM10.90 million in 4QFY2022. Earnings per share rose to 1.83 sen from 0.35 sen.
For FY2023, the group’s net profit also jumped four-fold to RM2.03 million from RM520,000 a year ago, while revenue grew by 44.86% to RM69.43 million from RM47.93 million.
Tomorrow (Wednesday, 8 November 2023), there will be another limit up.
1.3 × RM 0.815 = RM1.06.
Thursday (9 November 2023), the price will still be RM1.06; because only two consecutive limit ups are allowed. Then, on Friday (10 November 2023), I think the price will be close to 1.3 x RM1.06 = RM1.38 (up-down-up-down ...) but eventually, it will close at RM1.38. Next week, it will be free float.
To all investors in this forum, kindly please have patient and faith in EDARAN. It is the second MYEG.
Good luck to each one of you all. I hope that each one of us here will stay healthy and laughing all the way to the bank. Thank you.
Kepada semua ahli-ahli forum ini, sila mempunyai nilai kesabaran dan keyakinan kepada EDARAN. Ia bagaikan MYEG yang kedua.
Saya berdoa agar setiap ahli forum ini sentiasa sihat dan setelah sasaran kewangan anda daripada saham EDARAN dicapai, kongsikanlah dengan ahli-ahli keluarga anda. Terima kasih.
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....
ktrader
1,897 posts
Posted by ktrader > 2023-11-07 12:34 | Report Abuse
0.815