Comintel surges 25 sen to new seven-year high


  • Markets
  • Monday, 21 Dec 2015

KUALA LUMPUR : Shares of Comintel Corp gained as much as 25 sen to 89 sen per share in Monday's morning trading session as investors continued accumulating the stock following a strong set of earnings in the third quarter ended Oct 31, 2015.

The stock hit an seven year high of 89 sen at 12pm, representing a rise of 25 sen from Friday’s closing price of 64 sen.It subsequently pared down the gains and was last traded at 84 sen as at 12.30pm.

The information and telecommunications solutions provider’s stock was the top traded stock in terms of volume with some 90 million shares done.

The gains represent nearly a tripling in the value of Comintel’s stock since last week.

Between Dec 16 and Monday, the stock rose from 33.5 sen to its last traded price of 84 sen.

The stock’s daily limit threshold for Monday is 94 sen, which is the maximum price it can hit in one trading session.

The company reported a strong improvement in earnings in its third quarter ended Oct 31, 2015. Its net profit grew to RM4.86mil from RM871,000 during the same quarter a year ago.

Comintel’s revenue similarly improved to RM109.85mil from RM83.77mil on the back of higher sales volume from its manufacturing segment.

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