Arka shares jump 10% to one-year high


KUALA LUMPUR: Shares in Arka Bhd surged over 16% to a one-year high in early trade.

Formerly known as Transocean Holdings Bhd, the stock climbed 10.89%, or 22 sen, to RM2.24, its highest since May 2023. The counter has risen 16.06% in the past five trading sessions.

A check on previous filings by the company indicated no recent corporate developments that might have contributed to the sudden interest in the counter.

For the financial year ended Dec 31, 2023, it posted a net loss of RM1.15mil, or loss per share of 1.77 sen against a net profit of RM1.7mil, or 2.70 sen. Revenue for the period grew to RM38.3mil from RM28.9mil previously.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Arka , Transocean

   

Next In Business News

ECB to cut further if there’s progress on inflation
Shein capitalises on emerging cross-border eCommerce platforms
Colombia faces weakening case for cuts
Morgan Stanley brings AI tools to Australia clients
Budweiser China brewing greener future
BoK calls for balance in considering rate cut
Private credit is ‘resilient’ despite trouble
How consumers hit a sweet spot with durian
ACE Market-bound Go Hub Capital targets RM37.5mil from IPO
Collectors taking their time to buy at Art Basel

Others Also Read