Quick take: Acme shares hit highest in 6 years


KUALA LUMPUR: Shares in Acme Holdings Bhd rose to its highest in over six years, on renewed buying interest following news of a potential joint venture with Skymind Holdings Bhd.

The plastic product manufacturer added 2.94%, or two sen to 70 sen, its highest since May 2014. Acme-WA added 15.12%, or 6.5 sen to 49.5 sen.

Acme said it is exploring a potential joint venture with Skymind to produce artificial intelligence (AI) devices and offer AI solutions.

“We wish to inform Bursa Securities that the company is only at the exploratory stage with Skymind for a potential joint venture to produce AI solutions/devices.

“In addition, the board and management are constantly exploring to steer the company towards improved profitability and financials to ensure fundamentals of the company remain strong as well as to enhance shareholders' value,” it said.

In the first quarter ended June 30, Acme posted a net loss of RM761,000 against a net profit of RM82,000 in the same period a year ago.

Its revenue for the period stood at RM2.43mil from RM5.59mil posted in the same corresponding period last year.

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Acme , Skymind , artificial intelligence

   

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