MPAY (0156) - Hot Stock - ManagePay up 4.5% on Bank Negara, UnionPay contracts
April 27, 2015 : 12:14 PM MYT
KUALA LUMPUR (Apr 27): ManagePay Systems Bhd rose as much as 4.5% as investors continued to buy the electronic-payment specialist's shares after it secured two contracts in recent weeks.
ManagePay (fundamental: 1.50; valuation: 0.6) rose as much as 1.5 sen to 35 sen before reducing gains. At 11.42am, the stock was traded at 34.5 sen with some 14 million shares done.
Shares of ManagePay had risen 60% this year, outperforming the FBM KLCI's 6% gain. At 34.5 sen, ManagePay has a market capitalisation of RM138.9 million.
To recap, ManagePay had last February received a letter of award from Bank Negara Malaysia to issue electronic money (e-money).
Last week (April 21), ManagePay said it was appointed as a third-party service provider for China’s UnionPay International Co Ltd.
Managepay said the contract with UnionPay was expected to contribute positively to ManagePay's earnings and net assets in the long term.
ManagePay's valuations are also worth noting. At 34.5 sen, the stock was traded at a price-earnings ratio of 93.24 times, according to Bloomberg data.
This compares to the sector average of 72.09 times.
http://www.theedgemarkets.com
April 27, 2015 : 12:14 PM MYT
KUALA LUMPUR (Apr 27): ManagePay Systems Bhd rose as much as 4.5% as investors continued to buy the electronic-payment specialist's shares after it secured two contracts in recent weeks.
ManagePay (fundamental: 1.50; valuation: 0.6) rose as much as 1.5 sen to 35 sen before reducing gains. At 11.42am, the stock was traded at 34.5 sen with some 14 million shares done.
Shares of ManagePay had risen 60% this year, outperforming the FBM KLCI's 6% gain. At 34.5 sen, ManagePay has a market capitalisation of RM138.9 million.
To recap, ManagePay had last February received a letter of award from Bank Negara Malaysia to issue electronic money (e-money).
Last week (April 21), ManagePay said it was appointed as a third-party service provider for China’s UnionPay International Co Ltd.
Managepay said the contract with UnionPay was expected to contribute positively to ManagePay's earnings and net assets in the long term.
ManagePay's valuations are also worth noting. At 34.5 sen, the stock was traded at a price-earnings ratio of 93.24 times, according to Bloomberg data.
This compares to the sector average of 72.09 times.
http://www.theedgemarkets.com
