Quick take: Vortex most active stock in early trade

KUALA LUMPUR: Vortex Consolidated Bhd is the most active stock on Bursa Malaysia in early trade Thursday.

The information technology company advanced 6.25%, or 0.5 sen to 8.5 sen with 14.4 million shares changed hands. It is currently trading at a PE ratio of 160 times.

The company has not made any announcements recently apart from a couple of boardroom changes.

Vortex announced that Tan Ooi Jin had been redesignated from deputy chairman to chairman.

In addition, it said Kamari Zaman Juhari has resigned as independent and non-executive chairman.

In the third quarter ended Dec 31, 2019, Vortex widened its net loss to RM1.83mil against RM464,000 previously.

Its revenue for the period, however, was higher at RM42.08mil from RM40.06mil in the same period last year.

In the first nine months to Dec 31, Vortex posted a net loss of RM7.95mil on revenue of RM112.8mil.

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