Teck Guan puzzled over share price hike

PETALING JAYA: Teck Guan Perdana Bhd said it was unaware of any corporate development, rumour or other possible explanation that may have contributed to the rise in its share price.

On Monday, the company was queried by Bursa Malaysia over the recent share price spike, which has risen 9.56% since early this month.

The counter continued to rise yesterday to close 13 sen higher at RM1.49.

For the second quarter ended July 31, 2015, Teck Guan swung to the black registering a net profit of RM2.59 million against a net loss of RM1.86 million in the previous corresponding period, due to a stronger ringgit against the US dollar.

This brought its half-year net earnings to RM5.43 million, a nearly three-time surge from RM1.91 million.

The company is involved in two business segments, namely the cultivation, extraction and sale of oil palms as well as the plantation of cocoa and cocoa products.