mentioned today in afr p.20, page-3

From AFR:

"There is a growing view that Nexbis could shape up as one of this year's most interesting trading opportunities as it's share price struggles to climb back from a two year low

The talk suggests Nexbis's downward trend in recent weeks has more to do with fund managers bailing out the stock than with any looming bad news.

Nexbis reached a high of around 57c last August. But management lost credibility with investors after it failed to deliver on its big earnings guidance on the back of contract wins with the Malaysian and Chinese governments for its mobile security and identification system.

A change in government in Malaysia meant the contract was put on hold, though Nexbis tried to reassure the market that it expected the project to resume eventually.

Management also tried to regain confidence by informing the market it had received $10.1 million from the Chinese government, or around a third of the outstanding amount owed on a project to put barcodes on liquidfied petroleum gas canisters.

Nexbis's fall from grace means the stock trades on a current price/earnings multiple of just 1.7 times."