Key Alliance emerges as most active counter

PETALING JAYA: Key Alliance Group Bhd (KAG) emerged as the most actively traded counter yesterday with 65.94 million shares changing hands despite no major announcements made in the recent weeks.

The stock rose 0.5 sen or 12.5% to close at 4.5 sen yesterday.

The most recent announcement was on June 7 on KAG’s signing of a collaborative agreement with Anzo Holdings Bhd’s wholly owned subsidiary Harvest Court Properties Sdn Bhd for the development and enhancement of an e-commerce fulfilment hub.

The hub is to be part of a project Anzo has with Captive Max Sdn Bhd to develop a piece of 2.87 acres land located in Petaling Jaya into a car showroom centre with four block of signature office towers with an estimated gross development value of RM420 million.

KAG shares have been stagnant within the 4 sen to 4.5 sen range since May 4. It reached a high of 9.5 sen on April 10 following an announcement on a proposed acquisition of RapidCloud (M) Sdn Bhd for RM3.5 million, which is one of the established sellers of Alibaba Cloud in Malaysia.

Meanwhile, Anzo, which was not far behind KAF, closed as the fourth most active counter on some 27.46 million shares done. It was unchanged at 14 sen yesterday.

It had on June 23 completed a rights issue for 482 million rights shares and 241 million warrants to entitled shareholders.