Vivocom most actively traded stock in morning trade

PETALING JAYA: Vivocom International Holdings Bhd was the most active counter in morning trade, with investors pushing it to a high of 15.5 sen.

The stock closed morning trade half a sen higher at 15 sen, with some 74.98 million shares changing hands. It has a market capitalisation of RM485.13 million.

In the space of three market days, the stock has gained 30.4%, back to levels seen before early May. The stock started its downtrend weeks before the company announced that net profit fell more than 70% to RM5.2 million for the quarter ended March 31, 2017 on a 85% fall in contribution from the construction division.

Most recently the company announced a private placement plan of up to 10% and a RM195.2 million 1Malaysia Civil Servants Housing in Manjung, Perak construction job win.