Quick take: Ni Hsin rises on electric motorcycles battery deal

KUALA LUMPUR: Shares in Ni Hsin Group Bhd rose over 7% in early trade following its electric motorcycles battery deal.

The stainless steel cookware maker rose 7.41%, or one sen to 14.5 sen at 9.19am. The counter has risen over 81% in the past one year.

Ni Hsin-PA jumped 16.67%, or 0.5 sen to 3.5 sen and Ni Hsin-WB added 11.76%, or one sen to 9.5 sen.

Ni Hsin’s unit has entered into a heads of agreement (HoA) with MNA Energy Sdn Bhd (MNAE) to develop battery technology for electric motorcycles, or EV Two Wheelers.

It said the HoA signed by its wholly owned subsidiary Ni Hsin EV Tech Sdn Bhd would also allow the group to participate in the business and growth of MNAE.

MNA Energy is principally engaged in the business of producing Battery Energy Storage Systems for Electric Mobility and Stationary applications.

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