Tech stocks top volume


shares in IT provider HeiTech Padu Bhd gained ground in early trade on Monday, but has since cooled down following its reply to an unusual market activity (UMA) query by Bursa Malaysia. Yesterday, HeiTech Padu closed four sen lower at RM1.24. In a response to the UMA query on Monday, HeiTech Padu said it was not aware of any possible explanation to account for the unusual trading activity. On Friday, shares in HeiTech Padu hit limit-up after rising 30% or 31 sen

PETALING JAYA: Shares in technology company GREEN PACKET BHD continued their two-week uptrend and were among the most actively traded stocks yesterday on the back of new business developments taking place.

Yesterday, Green Packet was up two sen to 52.5 sen on a volume of 47.14 million shares.

Its warrants were the most actively traded stock on Bursa Malaysia, with a volume of 141.85 million shares, although the price was unchanged at 12.5 sen.

Changes in key appointments and business directions have been taking place over the month. On July 1, Green Packet’s founder Puan Chan Cheong, better known as C.C. Puan, announced that he was returning as group managing director and CEO after a five-year hiatus.

Puan will focus on mentoring and growing the key management of Green Packet to propel digital start-ups, fuelling the technology ecosystem in the region.

Following that, shares in Green Packet started shooting up from the 37-sen level, on the back of its new direction of becoming a financial technology company to its current 52.5 sen.

Back in April, Green Packet’s 32%-owned associate G3 Global Bhd announced that G3 and SenseTime Group Ltd were looking to build the first artificial intelligence park in Malaysia.

The project is to be carried out in collaboration with China Harbour Engineering Co Ltd with a total investment in excess of US$1bil over the next five years.

The trend continues with tech stocks gaining traction, such as Netx Holdings Bhd and Excel Force MSC Bhd, which were among the top-three, high-volume stocks yesterday.

NetX Holdings closed unchanged at 1.5 sen, on a volume of 117.02 million shares, while Excel Force closed 7.63% higher at 70.5 sen with 114.53 million shares changing hands.

Meanwhile, shares in IT provider Heitech Padu Bhd gained ground in early trade on Monday, but has since cooled down following its reply to an unusual market activity (UMA) query by Bursa Malaysia.

Yesterday, HeiTech Padu closed four sen lower at RM1.24.

In a response to the UMA query on Monday, HeiTech Padu said it was not aware of any possible explanation to account for the unusual trading activity.

On Friday, shares in HeiTech Padu hit limit-up after rising 30% or 31 sen.

It had been reported that HeiTech Padu was one of the top-three frontrunners for the multi-billion-ringgit integrated immigration system to replace Sistem Kawalan Imigresen Nasional (SKIN). SKIN was to replace the existing Malaysian Immigration System.

Prestariang Bhd had originally secured the 15-year concession to design, deliver, continuously maintain and provide scheduled upgrades for a new and improved immigration and border control system for the Immigration Department back in August 2017.

It was initially agreed that Prestariang would receive about RM3.5bil over the 15-year period. Then, in December 2018, Prestariang was informed of the Cabinet’s decision to terminate the project, which took effect the following month.


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