Quick take: Industronics jumps 38%, denies manufacturing 5G chips


KUALA LUMPUR: Industronics Bhd’s shares were heavily traded this morning with over 75 million shares exchanging hands, making it one of the most active counters on Bursa Malaysia.

The electronic firm surged 38.96%, or 15 sen to 53.5 sen, on talks suggesting that the group is manufacturing 5G chips.

While Industronics shares were trading volatile, Industronics has, however, denied it.

“In view of the recent fluctuation of Industronics share price, it has come to the attention of the Board of Industronics that there are unverified rumours circulating in the market in relation to the manufacturing of 5G chips.

“The Board of Industronics wishes to deny such rumours circulating in the market as the company has not, at this juncture, entered into any agreements nor in any discussions or negotiations with any parties to manufacture 5G chips,” Industronics said in a filing on Bursa Malaysia.

For the financial year ended Dec 31, Industronics’ net loss narrowed to RM427,000 from RM2.22mil in the same period a year ago.

Its revenue for the period grew 13% to RM17.43mil from RM15.41mil previously.

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Industronics , 5G

   

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