Fintec is a Malaysia-based biotechnology, technology incubation and portfolio investment holding company. It is one of my favorite stock and I have mentioned this stock several time before.
Fintec is the second most active stock on Wednesday with 622 million share traded, the volume changed hand represent 46% of its total number of paid up share of 1,339 million. It gained 3 sens or 30% to close at 13 sens.
The most active stock is Vsolar with 689 million share traded. Fintac is holding 14.32% of Vsolar.
Fintec has invested in many listed Malaysian companies that include TNB(0.01%), Komark(19.82%), Seacera(12.52%), Focus (25.02%), Vsolar(14.32%), AT(S)(28.29%), Netx(7.56%), DCB(7.37%) and Mlabs(11.2%). Its holding in these companies at today's closing price is worth Rm964 million or Rm0.72 per Fintec shares.
Fintec most valuable investment is its 25.02% holding in Focus. At Focus current price of Rm1.68, this stock has appreciated in price by 1200% in the last two years. During the same period Fintec's price has appreciated by only 85.7%.
The wave count for Fintec is as shown below. It is currently forming its sub-wave v that is likely to end either around Rm0.22 or Rm0.275 (my estimation).
For its last quarter ending 31/3/2020, Fintec EPS is 8.29 sens mainly from the fair value gained for its investment holdings. Net assets is Rm0.51. For the second quarter ending 30/6/2020, its estimated EPS is around 10 sens mainly from fair value gain and with net assets at Rm0.61 per share.
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