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Company
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Mayban Securities's
Morning Call - Trading Idea
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Karensoft Technology Bhd (RM0.93)
Support: RM0.88-0.90; Resistance: RM0.99-1.00
Karensoft Technology Berhad is a Mesdaq
company specialises in providing Enterprise
Resources Management, Customer Relationship
Management and Supply Chain Management
solutions to the manufacturing, hospitality
and healthcare industries.
Despite the poor performance in FY03,
we see some healthy growth in FY04. For
3QFY04, the company has registered a net
profit of RM293k, which is a 28.5%yoy
jump in bottomline. 9-month cumulative
net earnings also grew by 13.9% compared
to previous year. The better performance
was attributable to the decrease in operating
costs and provision for doubtful debts.
Going forward, we believe Karensoft will
continue its expansion plans locally as
well as the overseas markets, such as
China, Thailand and Iran. Besides expanding
geographically, we believe the company
will also improve on their product offerings,
which will further enhance their position
in the market.
The technical indicators for Karensoft
look attractive. Stochastic indicator
has staged a positive crossover and Karensoft
is currently forming a base formation
at RM0.88- 0.90. Hence, traders should
accumulate during pullback and sell into
strength. Not rated (52w Hi-Low: RM1.19-RM0.67)
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