KUALA LUMPUR: Ucrest Bhd, which has been on an uptrend, jumped 24% in early trade, hitting its highest in 32 months.
The counter surged 24.29%, or 8.5 sen to 43.5 sen, its highest since August, 2018. It is currently the most actively traded counter on Bursa Malaysia with 137 million shares done.
Early this month, UCrest announced that it has signed a memorandum of understanding (MoU) with Russian Direct Investment Fund (RDIF) to identify and manage contract manufacturers for the production of the Sputnik V vaccine for RDIF.
“It is the Russian sovereign wealth fund that is responsible for the commercialisation of Sputnik V, developed by Gamaleya National Research Institute of Epidemiology and Microbiology,” UCrest said.
Under the MoU, UCrest — primarily involved in wireless and digital network products and services — is responsible for identifying, arranging and supervising contract manufacturers of Sputnik V in Asia “at various suitable manufacturing facilities”.