Quick take: Avillion shares on a roll

KUALA LUMPUR: Avillion Bhd, which has been on an uptrend continued to climb in early trade Wednesday.

The integrated travel and hotel group 10%, or two sen to 22 sen at 9.06am. It is currently the most actively traded counter on Bursa Malaysia with 103 million shares exchanged hands.

The counter has risen 98% since the beginning of this month.

A check on Avillion’s previous filings on Bursa Malaysia were mostly related to its private placement. There were five announcements related to the matter since May 2021.

Dealers said the interest in the stock could be due to the relaxation of restrictions in the social sector for states under Phase 2 of the National Recovery Plan (NRP).

They said the relaxation was a significant step to revive the battered tourism industry.

Beginning Aug 10, fully vaccinated individuals who reside in states under Phase Two and above of the NRP can enjoy several privileges as the government had agreed to ease the restrictions in the social sector.

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