My E.G. Administrations Bhd's (MyEG) offer value rose to a high of RM2.19 early Tuesday after its solid arrangement of results and its proposed reward issue.
At 9.17am, it was up nine sen to RM2.16 with 7.01 million shares done. Its call warrants, MyEG-CX rose 1.5 sen to 9.5 sen with 16.1 million units exchanged.
The FBM KLKCI rose 3.59 focuses or 0.21% to 1,685.19. Turnover was 120.78 million shares esteemed at RM92.24mil. There were 173 gainers, 142losers and 181 counters unaltered.
MyEG, which is a concessionaire for the Malaysian E-Government MSC Flagship Application, proposed one-for-two reward issue of up to 1.202 billion shares of 10 sen each.
Additionally its income surged to RM142.97mil for FY finished June 30, 2016, from RM68.14mil in FY15.
In the Q4, its income hopped 122.4% to RM51.04mil as income rose 93.7% to RM87.26mil.
CIMB Equities Reserch said at 101% of our entire year gauge, MyEG's 12FY2016 net benefit was in accordance with both the business sector and its desires.
"The proposed one-for-two reward issue was a positive astonishment. The rehiring system is progressing, as indicated by MyEG's site. MyEG's accounting report net money of RM102mil or RM4.30 net money per offer.
"Look after Add, we raise our objective cost by 20% because of its 52% three-year profit per offer intensified yearly development rate viewpoint," it said.
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