Eddie Ong-linked Hextar Technologies hits RM15 on renewed buying interest

TheEdge Thu, Nov 10, 2022 05:26pm - 1 year View Original


KUALA LUMPUR (Nov 10): Hextar Technologies Solutions Bhd’s share price jumped to another record high of RM15 after gaining over 10% on Thursday (Nov 10).

At market close, the counter pared some gains to settle at RM14.98 — up RM1.38 or 10.15%, making it the top gainer on the local bourse, with 305,500 shares changing hands.

The company is now valued at nearly RM2 billion, after having surged 496.18% year to date.

Over the past one month, the shares of the logistics services provider rose 165.6% from Oct 11’s closing price of RM5.64. This resulted in it being slapped with two unusual market activity queries from Bursa Malaysia — on Oct 19 and 31.

On both occasions, Hextar Technologies, formerly known as Complete Logistics Services Bhd, said it was not aware of any reason for the rise in its share price.

Businessman Datuk Eddie Ong Choo Meng is Hextar Technologies’ largest shareholder with a direct stake of 21.37% and and indirect stake of 50.11%.  

Over the last five years, Hextar Technologies had been trading largely below RM1, until a sudden rise in late February last year — just prior to Ong's emergence as the company's largest shareholder in March 2021.

For the first quarter ended June 30, 2022 (1QFY2023), Hextar Technologies posted a 29.46% rise in its net profit to RM290,000 from RM224,000 a year earlier on the back of a 158.23% jump in revenue to RM28.53 million versus RM11.05 million previously.

Besides Hextar Technologies, Ong also has interests in companies such as Hextar Global Bhd, Hextar Industries Bhd, Hextar Healthcare Bhd (formerly known as Rubberex Corp (M) Bhd), KIP Real Estate Investment Trust, Pekat Group Bhd, SWS Capital Bhd, Opcom Holdings Bhd, Classic Scenic Bhd, and most recently Perak Transit Bhd.

Early this month, he emerged as the second-largest shareholder of Perak Transit after acquiring a 6.92% stake in the Ipoh-based transport terminal and bus operator.

Read also:
Hextar Technologies unaware of reason for UMA as share price tops RM7
Hextar Technologies gets second UMA query in less than two weeks

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

BURSA 7.460
HEXCAP 0.400
HEXCARE 0.205
HEXIND 0.375
HEXRTL 0.450
HEXTAR 0.890
HEXTECH 1.340
KIPREIT 0.890
PEKAT 0.460
PTRANS 0.785
SWSCAP 0.220

Comments

Login to comment.