KUALA LUMPUR (Nov 9): Several penny stocks have surged, underpinned by rising speculative interest which has prompted queries from Bursa Malaysia Securities over the unusual market activities (UMA).
The latest on Wednesday was Hibiscus Petroleum Bhd which was issued an UMA. Emico Bhd, Sanichi TECHNOLOGY [], Dataprep and Harvest Courts Industries were among those which had risen sharply in very active trade.
At 12.30pm, the FBM KLCI was up 6.08 points to 1,486.54. Turnover was 1.60 billion shares valued at RM902.02 million shares. There were 441 gainers to 185 losers and 278 stocks unchanged.
Hibiscus-WA rose seven sen to 48.5sen with 127.28 million units done while the shares added 1.5 sen to 78 sen. Bursa Securities queried Hibiscus over the UMA of its shares recently.
Emico jumped 22 sen to 42 sen with 69 million shares done while the warrant surged 20.5 sen to 27.5 sen with 7.19 million units done. Investors should note that there are 11.13 million warrants in the market only.
The warrants, issued in December 2003, expire in 2013. The earlier conversion or strike price was RM1 but it was later revised to a one for one conversion after the strike price was reduced to zero.
Emico posted net profit of only RM82,000 in the second quarter ended June 30, 2011. It had accumulated losses of RM76.25 million as at June 30.
Sanichi, which resumed trading on Wednesday, rose one sen to 10 sen with 41.45 million shares done after announcing that Projektarbelt Technische Beratung Venretung International (Protev) has completed its first phase of due diligence.
Harvest jumped to a fresh new high of RM1.45, up 27 sen with 13.54 million shares done. The warrants added 20 sen to RM1.25.
Dataprep rose nine sen to 33 sen. It posted net loss of RM112,000 in the first quarter ended June 30, 2011.
The latest on Wednesday was Hibiscus Petroleum Bhd which was issued an UMA. Emico Bhd, Sanichi TECHNOLOGY [], Dataprep and Harvest Courts Industries were among those which had risen sharply in very active trade.
At 12.30pm, the FBM KLCI was up 6.08 points to 1,486.54. Turnover was 1.60 billion shares valued at RM902.02 million shares. There were 441 gainers to 185 losers and 278 stocks unchanged.
Hibiscus-WA rose seven sen to 48.5sen with 127.28 million units done while the shares added 1.5 sen to 78 sen. Bursa Securities queried Hibiscus over the UMA of its shares recently.
Emico jumped 22 sen to 42 sen with 69 million shares done while the warrant surged 20.5 sen to 27.5 sen with 7.19 million units done. Investors should note that there are 11.13 million warrants in the market only.
The warrants, issued in December 2003, expire in 2013. The earlier conversion or strike price was RM1 but it was later revised to a one for one conversion after the strike price was reduced to zero.
Emico posted net profit of only RM82,000 in the second quarter ended June 30, 2011. It had accumulated losses of RM76.25 million as at June 30.
Sanichi, which resumed trading on Wednesday, rose one sen to 10 sen with 41.45 million shares done after announcing that Projektarbelt Technische Beratung Venretung International (Protev) has completed its first phase of due diligence.
Harvest jumped to a fresh new high of RM1.45, up 27 sen with 13.54 million shares done. The warrants added 20 sen to RM1.25.
Dataprep rose nine sen to 33 sen. It posted net loss of RM112,000 in the first quarter ended June 30, 2011.
