Shares of Excel Force, GPacket, MyEG up in active trade

The losses were mainly due to an impairment due from an associate company amounting to RM95.45mil, and the impairment of equipment amounting to RM76.29mil.

KUALA LUMPUR: Shares of Excel Force MSC, Green Packet and MyEG Services rose in very active trade on Tuesday on expected corporate news involving their companies.

Ar 3.16pm, Excel Force was up 8.5 sen to 74 sen with 83.6 million shares done.

Green Packet gained two sen to 52.5 sen with 43.70 million shares while My EG added eight sen to RM1.69 with 42.59 million units done.

The FBM KLCI was up 0.72 point or 0.04% to 1,656,12. Turnover was 1.88 billion shares valued at RM1.15bil. There were 361 gainers, 374 losers and 395 counters unchanged.

Green Packet's unit is tying up with Bank Islam Malaysia Bhd to offer e-payment and cashless payment services in universities and higher learning institutions in the country.

Green Packet said KiplePay Sdn Bhd, had entered into a strategic collaboration with Bank Islam to empower the cashless communities, particularly in the education sector, and support the huge growth in payments for the e-commerce industry.

StarBiz reported investors have also been drawn to other tech stocks over the week.

While some are embarking on their own IT projects, the euphoria is surely backed by hopes of new government IT jobs being dished out. 

In the past, stocks enjoyed strong buying interest when such contracts were inked. However, under the new government, it is no longer going to be that easy. 

The government will only embark on IT projects that are firmly needed and in accordance to the tight budget the government is operating under.