KUALA LUMPUR: Shares in SCOMI GROUP BHD were hotly traded in afternoon trade with over 701 million shares done.
The PN17 company jumped 285.71%, or 10 sen to 13.5 sen. Scomi-WB surged 500%, or 7.5 sen to nine sen with 420 million shares exchanged hands.
Scomi Energy Services Bhd’s shares also rose 31.58%, or three sen to 12.5 sen with 18.8 million shares traded.
According to Bursa filings, Scomi’s non-independent/non-executive director Shah Hakim @ Shahzanim Zain acquired one million shares in the company at 3.5 sen per share on March 9 from the open market. He acquired another 366,500 shares at 3.5 sen a share the next day.
He has a direct stake of 2.019% and an indirect stake of 8.11% in Scomi.
In the PN17/GN3 monthly announcement on March 1, Scomi said: "The board of directors of the company wishes to announce that the company is in the midst of formulating a regularisation plan to address its financial condition."
The company has approximately six months to submit its regularisation plan to the relevant regulators for approval, it said.