KUALA LUMPUR: VisDynamics Holdings Bhd is still open to any takeover offers to establish a more sustainable earnings stream, although its takeover bid of an Indonesian information technology (IT) firm fell through last year. VisDynamics posted a record net profit of RM4.3 million for FY16 compared to a loss of RM666,000 the previous year. Based on the latest financial results, an analyst told The Edge Financial Daily that VisDynamics was valued relatively cheaper than its peer Vitrox Corp Bhd. “The same flash memory can also be installed in self-driving cars as well as other equipment,” he highlighted. As of Oct 31, 2016, VisDynamics had fixed deposits, cash and bank balances of RM10.57 million, while its borrowings stood at RM2.82 million.

Source: The Edge Markets January 16, 2017 01:19 UTC