Quick take: Courier services players rise in early trade

KUALA LUMPUR: Seen as a potential beneficiary of the movement control order (MCO), shares prices on several courier service companies trend higher this morning.

Prime Minister Tan Sri Muhyiddin Yassin announced yesterday that MCO will be reintroduced in six states – namely Melaka, Johor, Penang, Selangor and Sabah and the federal territories of Kuala Lumpur, Labuan and Putrajaya for two weeks.

Logistics companies have seen an increase in demand for its courier services as e-commerce picks up during the MCO.

GD Express Carrier Bhd (GDEX), one of the most actively traded counters on Bursa Malaysia added 5.33%, or two sen to 39.5 sen with 15.9 million shares done.

GDEX-WC surged 3,400%, or 17 sen to 17.5 sen while GDEX-CS rose 25%, or one sen to five sen.

Nationwide Express Holdings Bhd jumped 18.18%, or six sen to 39 sen with 2.2 million shares traded.

Pos Malaysia Bhd gained 0.95%, or one sen to RM1.06 with 1.6 million shares done.