This article first appeared in The Edge Financial Daily, on April 19, 2016.
Palette Multimedia Bhd (+ve)
Shares in Palette Multimedia Bhd (fundamental:2.40/3, valuation:0/3) closed one sen or 11.76% higher at 9.5 sen yesterday, with 36.89 million shares traded.
The information technology company, which has returned to the black after three years of losses, seems to have found a growth catalyst after it on March 25 signed a RM2 million business deal with Griffin Group International Pte Ltd for its mobile healthcare business, i-medicTM.
I-medicTM is a mobile healthcare cloud system developed by Palette; it connects multiple wireless intelligent medical or healthcare devices to doctors, caretakers or hospitals, aiming to help doctors and specialists extend their medical services beyond the physical boundaries.
To note, Palette has just returned to profit by posting a net profit of RM2.19 million for the financial year ended Dec 31, 2015 (FY15), on higher revenue of RM2.31 million. In FY14, the company incurred a net loss of RM6.84 million on revenue of RM1.12 million.
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crazy127
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