Amedia may have a bullish breakout

Asia Media Group Berhad ('Amedia') is Malaysia’s leading, digital out-of-home Transit TV company. It offers high-quality infotainment and targeted advertising through the use of digital electronic displays installed in various outdoor premises. For 9-month ended 30/9/2011, it reported a net profit of RM11.7 million on a turnover of RM27.9 million. Based on paid-up capital of RM22.8 million (comprising 228 million ordinary shares of RM0.10 each), Amedia's full-year EPS is about 6.86 sen. At the close of the morning session, Amedia was trading at RM0.32. This translates to a PE of 4.6 times. Its financial position is fairly healthy as it has very little borrowings & sitting cash of RM13.6 million as at 30/9/2011.

Amedia may have a bullish breakout at RM0.305 last Wednesday. Based on the bullish breakout, the stock could be a good trading BUY.


Chart: Amedia's daily chart as at Dec 16, 2011 (Source: Tradesignum)